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Warren Buffett lunch sells for record $650,100

Warren BuffettA bidder agreed to pay $650,100 to have lunch with billionaire Warren Buffett, surpassing last year's record for the annual charity auction.

Mohnish Pabrai, an Irvine, California-based investor who models his investment style on Buffett's, won the right to dine with the 76-year-old chairman of Berkshire Hathaway Inc. The five-day online auction concluded on Friday night on eBay Inc.'s Web site.

It was Pabrai's fifth year of bidding but the first time he won. The top bid surged nearly $250,000 in the final hour.

The lunch for up to seven people will be held at a Manhattan steakhouse run by Smith & Wollensky Restaurant Group Inc. Pabrai plans to take his wife and two children, and Spier and his wife.

Auction proceeds will benefit the Glide Foundation, a non-profit group in San Francisco's Tenderloin district that helps serve poor and homeless people.

Source: Yahoo News
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