Even as people pay up million dollars to have lunch with legendary investor Warren Buffett, they usually don’t ask stock tips. We take a closer look.
Even as people pay up million dollars to have lunch with legendary investor Warren Buffett, they usually don’t ask stock tips. “It’s not common for people to ask me stock tips for lunches,” Warren Buffett said in an interview to CNBC. So, what do they usually ask him? “We talk about family, children, raising kids, it’s a lot of things. It’s not stocks or business or finance at all,” he said during the interaction.
Notably, an anonymous bidder has agreed to pay $3,300,100 at auction to have a private lunch with Warren Buffett this year. The winning bid came near the end of a five-day online auction on eBay to benefit the Glide Foundation, a San Francisco charity that serves people who are poor, homeless or battling substance abuse, said a Reuters report.
Leading US-based investor Mohnish Pabrai had paid $650,000 for lunch with Warren Buffett about a decade ago. “In 2007, a friend of mine and I bid $650,000 for a lunch date with Buffett in New York. I took my wife and two daughters along. When we asked him who would his ‘idol’ lunch date be, he said instantly, “Isaac Newton”. Seconds later, he smiled and said, Sophia Loren,” Mohnish Pabrai told ET Now in an interview in 2014.
Sharing lessons learnt from Warren Buffett, Pabrai said that Buffett lives like an ordinary person and has the zeal of a five-year-old. “He inspired both me and my wife to recycle our assets and set up the Dakshana Foundation in 2005 to provide IIT-JEE coaching to gifted but underprivileged students in rural India,” he said.
The latest ‘Power Lunch with Buffett’ garnered the third highest price in the 19 years. Buffett has offered lunch, near the record $3,456,789 bid in both the 2012 and 2016 auctions. This year’s auction drew 136 bids from just six bidders before ending in June this year.