So for everyone that doesn’t know who Warren Buffett is, I would suggest you open a book once in a while. The mega investor that has made tens of billions of his own fortune (self made man) and who keeps on working hard every single day once a year offers a very special lunch that people need to bid for in order to talk with him. Usually the final amount lays somewhere in the range of $2-3 million. People have the opportunity to not only meet Warren but to also ask him any questions (excluding what his next investments are going to be) or advice etc. In fact, last year the amount the successful bidder had to pay was $3,456,789 and he was able to basically get close to the oracle of Omaha.
Now I know many people will say: so much money for one lunch? Many others will say Warren is selling his plate of food for an incredibly high amount. Please note that this that he does is all for charity work. So in other words, he won’t be collecting a single dime from this and will in fact give it all away. It’s a win win win situation: the bidder is able to meet one of the most successful people of all time, Warren is able to give some very helpful advice and thus contribute to society, and the charities and causes he cares about are going to be able to support themselves.
The only argument I would agree with (as an opposing argument) would be in regards to what the bidder is actually trying to achieve. I am a firm believer in knowledge and information, however just trying to pick the brain of someone for an hour, isn’t going to make you successful. If anyone is under the impression that just because you sit down with one of the successful ones, you will be able to get so much inspired to do the same, then you are wrong. In order to succeed (and to keep succeeding – because this never can end) you need to get off your fat behinds and start moving. Listening to advice will enrich you, but it will only make you rich if you apply it. The person that was sitting with Warren on that lunch table, should better have done their homework and understood what was on the table (aside of the turkey they probably ate.) Was the meeting an introduction to some business idea and a networking opportunity? Was it just a way to show off to friends and share the great photographs you shot with Mr. Buffett? The intention of this is the thing that should worry people, not that someone is paying that kind of money for a lunch.
Many people will spend a lot more to talk to companies looking to invest and people are going to go through a lot more trouble to get what they want (which may be an investor or influencer.) If you are just looking to do it though for the image or honor of meeting a successful person, then personally I don’t think I would do that. it’s a waste of money in my opinion. With $3 million as a down-payment, you can get a very good size loan and build an incredible business or investment portfolio. In my mind, the only way these meetings make any sense, are if the person is looking to work with Warren: either as some kind of employee, or partner or associate.
What about the nature of the auction? Where was it listed. Well, don’t go too far…it was no other platform than E-bay. Yes, they were the big hosts of this amazing auction of opportunity and as you probably guessed, got a nice slice for the deal. The auction ran for 5 days and then it was completed with the highest bid taking the big win.
What about the charity cause? The foundation he would donate to is Glide. They are a great foundation that offers hundreds of meals along with covering any other basic needs. It’s an opportunity to help people stand on their feet again and fill their belly with something more than empty air. So I really admire what Mr. Buffett has been doing for people that are in less fortunate situations, and I think Glide is very lucky to have someone like Warren to support them. Hopefully we can see more auctions of this type in the future. Reach out with any questions!