The organizers of the 13th-annual charity auction of a steak lunch with Warren Buffett are hoping the winning bid will top $2 million for the fifth-straight year.
The man who won the previous two auctions, however, presumably won't be participating.
Ted Weschler is now working for Buffett as a Berkshire Hathaway [ BRK.A 166020.00 -960.00 (-0.57%) ] portfolio manager.
Online bidding begins June 3 at 10:30 p.m. EDT and ends June 8 at 10:30 p.m. EDT. Proceeds go to San Francisco's Glide Foundation . It describes its mission as creating a "radically inclusive, just and loving community mobilized to alleviate suffering and break the cycles of poverty and marginalization."
Buffett was introduced to Glide by his first wife, Susan, and calls it "maybe the most effective organization I’ve seen for people down on their luck."
Bidders need to be pre-qualified to participate. The minimum first bid is $25,000.
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