Annual charity lunch with Warren Buffett sells $3.46 million

Each year since 2000, bidders have been pledging ever greater sums to have lunch with investment mogul Warren Buffett, with proceeds benefitting one of his favorite charities.

The previous 12 auctions have raised over $11.5 million for Glide, a San Francisco non-profit offering innovative programs to poor and marginalized people. The foundation serves 700,000 free meals a year and provides dozens of other social services on a $12 million budget.

Last year’s winning bidder – fund manager Ted Weschler – paid $2.63 million for lunch with the “Oracle of Omaha” at the Smith & Wollensky steakhouse in Manhattan. Weschler was subsequently hired by Buffett in September as an investment manager at Berkshire Hathaway.

This year 10 bidders entered 106 bids over the five-day auction period. The winning bidder, who has yet to be named, offered $3,456,789.