Blog 8 by Nicolas Verstraete; "Buffett lunch costs 1.68m dollars"

Buffett lunch costs 1.68m dollars

In this article you can read that the firm Salida Capital, a Canadian investment firm, paid 1.68 million US dollars to lunch with the famous investor Warren Buffett. If you donated money to the Glide Foundation, which provides social services to the homeless and the poor inhabitants of San Francisco, you could win a lunch with Warren Buffett. Warren Buffett holds this contest each year, and the winner of the year 2008 paid even 2.1 million US dollars. The only reason why those firms would donate something is to have a good discussion about different topics with investor Warren Buffett and to get some good advice for the future of the world’s richest man on the Forbes list of 2008.

I think that it is crazy to pay all the money, if you know that the money goes to charity. Maybe that’s a good fact in this deal; “benefit”. On the other hand, the Canadian firm won a lunch with the best investor from this time, so maybe if they’ve got some good advice of him, they can win back the money they’ve paid. So maybe if the company is lucky, this could be a good investment at time. Buffett is also very clever: he knows that people aren’t going to donate that amount of money to charity, and by giving a nice price for the biggest giver, he is certainly able to make more people donate.

http://www.express.co.uk/posts/view/159967/Buffett-lunch-costs-1-68m-dollars