Ever wondered what it would be like to have lunch with Warren Buffett, the fourth-richest person in the world? That would make for a very exciting adventure, not to talk of the many business lessons you would surely learn while at it.
However, dining with the fourth-richest man in the world and learning from his overflowing stream of knowledge isn’t just an all-dressed-up and candle lights kind of thing. It’s going to cost you a whopping $3.5 million. Convert that to naira and we are talking over N1.2 billion.
According to Forbes, lunch with the prolific, world-renowned investor, known as the ‘power meal’ is one sure way to learn about the biggest deals and most important investing advice.
The Real Catch: For twenty years, Warren Buffett has been auctioning an off lunch to the public for the highest bidder in other to support one of his charities ‘San Francisco’s Glide Foundation’ with its profit.
People are jumping at it: While you might be slacking and wondering why in the world you may want to splash that kind of money over lunch, many people are already paying up. Within 48 hours after the bidding kicked off on May 26, the record winning bid of $3.456 which was set in 2016 was surpassed.
Since the introduction of the bid in 2000, an opportunity to have a private lunch with Buffett and seven friends have helped to raise $30 million to support Buffett’s charity.
About San Francisco’s Glide Foundation: Glide was founded about 50 years ago. It is a foundation that focuses on stopping the cycle of poverty in San Francisco, which also provides aid and advocates for marginalised individuals and families.
A taxed Lunch: The power meal is surely taxed. Of course, it has to be! Imagine eating a $3.5 million worth of meal; the government has a good reason to be worried.
The truth is that many underprivileged people have benefited from this power lunch. So, you might want to book your slot. In 2010 and 2011, a man named Ted Wechsler single-handedly purchased two slots for $2,626,311 and $2,626,411; respectively. The next year, Ted was hired as the second investment manager at Berkshire Hathaway, Warren Buffett’s conglomerate which owns Geico, Dairy Queen, NetJets, and more.
So, what are you waiting for? o book your lunch date with a billionaire! Seriously though, would you actually splash that amount of money for a lunch date with anybody? Many of us around here cannot even relate…
If you win the “Power Lunch” bid, the money you dish out is really a donation to the Glide Foundation. First, as the article states, this donation benefits the underprivileged. Second, such donations are tax-deductible, and typically help the billionaires and millionaires who bid for the lunch to reduce taxes they pay to the US government. Third, you get to chat with Warren and other billionaires and millionaires. When billionaires and millionaires chat for hours, things generally happen that make these folks more millions.
There is indeed logic to what seems to be portrayed as paying huge amounts of money just for lunch.
If you win the “Power Lunch” bid, the money you dish out is really a donation to the Glide Foundation. First, as the article states, this donation benefits the underprivileged. Second, such donations are tax-deductible, and typically help the billionaires and millionaires who bid for the lunch to reduce taxes they pay to the US government. Third, you get to chat with Warren and other billionaires and millionaires. When billionaires and millionaires chat for hours, things generally happen that generate more millions for them.
So, there is indeed logic to what seems to be portrayed as paying huge amounts of money just for lunch.