Current:Home > InvestWarren Buffett has left the table. Homeless charity asks investors to bid on meal with software CEO-LoTradeCoin
Warren Buffett has left the table. Homeless charity asks investors to bid on meal with software CEO
View Date:2024-12-24 03:04:47
The California homeless charity that received $53 million over the years from investors who wanted a private lunch with billionaire Warren Buffett has found a new business executive to auction off a meal with.
The Glide Foundation said Tuesday that it will hold an auction on eBay next month for a private lunch with Salesforce Chairman and CEO Marc Benioff. The San Francisco-based charity helps the homeless and those in poverty in the same city where Benioff oversees a software empire.
The final auction of a lunch with Buffett two years ago attracted a record $19 million price that isn’t likely to be matched. The revered investor has legions of devoted followers who fill an Omaha arena every spring at Berkshire Hathaway’s annual meeting to listen to Buffett’s insights, and he had said ahead of time that 2022 would be his last auction.
Still, Glide hopes that the Benioff auction will also raise significant funds to support the organization’s $31 million budget, which provides meals, health care, job training, rehabilitation and housing for the poor and homeless. Buffett said it always amazed him how the charity helped people in difficult situations find hope again.
“We are so grateful that Marc Benioff is continuing Warren Buffett’s legacy of supporting San Francisco’s most vulnerable,” said Dr. Gina M. Fromer, Glide’s President and CEO.
Buffett’s first wife, Susie, introduced him to Glide after she volunteered there following her move to the city, and she suggested starting the lunch auction in 2000. She died in 2004, but the connection endured.
Buffett endorsed the new arrangement from his office at Berkshire’s small headquarters in Omaha, Nebraska. Benioff has urged his fellow CEOs to do more to help the homeless and remedy the inequalities in society that they helped create. He’s also taken stands on polarizing issues such as gay rights, climate change and gun control.
“The baton is in the right hands with Marc Benioff,” Buffett said. “He’s going to do a wonderful job improving on what I did over the years. With Marc’s enthusiasm and commitment, along with GLIDE’s leadership and volunteers, GLIDE will be able to continue providing its vital services for San Francisco.”
Benioff said he’s “incredibly humbled to continue Warren’s legacy” with the lunch auction.
Just as the Buffett auctions did, the weeklong Benioff lunch auction will begin May 5 with an opening bid of $25,000 and continue through June 10.
Organizers have their work cut out for them if they’re attempting to match Buffett’s record. Starting in 2008, every winning bid for lunch with the investing giant topped $1 million.
One past winner, Ted Weschler, received a job offer from Buffett’s company after he spent nearly $5.3 million on two auctions in 2010 and 2011. Weschler now works as an investment manager for the conglomerate, which owns an eclectic assortment of companies including Geico insurance, BNSF railroad, See’s Candy, several major utilities and Dairy Queen.
___
Follow Josh Funk online at www.twitter.com/funkwrite
veryGood! (7)
Related
- Georgia's humbling loss to Mississippi leads college football winners and losers for Week 11
- New Report Expects Global Emissions of Carbon Dioxide to Rebound to Pre-Pandemic High This Year
- Inside Clean Energy: Well That Was Fast: Volkswagen Quickly Catching Up to Tesla
- Americans snap up AC units, fans as summer temperatures soar higher than ever
- The state that cleared the way for sports gambling now may ban ‘prop’ bets on college athletes
- The Race to Scale Up Green Hydrogen to Help Solve Some of the World’s Dirtiest Energy Problems
- Who are the Hunter Biden IRS whistleblowers? Joseph Ziegler, Gary Shapley testify at investigation hearings
- Noah Cyrus Is Engaged to Boyfriend Pinkus: See Her Ring
- Georgia's humbling loss to Mississippi leads college football winners and losers for Week 11
- The U.S. is threatening to ban TikTok? Good luck
Ranking
- Who will save Florida athletics? Gators need fixing, and it doesn't stop at Billy Napier
- Chloë Grace Moretz's Summer-Ready Bob Haircut Will Influence Your Next Salon Visit
- Biggest “Direct Air Capture” Plant Starts Pulling in Carbon, But Involves a Fraction of the Gas in the Atmosphere
- Is the Amazon Approaching a Tipping Point? A New Study Shows the Rainforest Growing Less Resilient
- Kentucky gets early signature win at Champions Classic against Duke | Opinion
- It's impossible to fit 'All Things' Ari Shapiro does into this headline
- The Best Waterproof Foundation to Combat Sweat and Humidity This Summer
- From searing heat's climbing death toll to storms' raging floodwaters, extreme summer weather not letting up
Recommendation
-
Chipotle unveils cilantro-scented soap, 'water' cup candles in humorous holiday gift line
-
New evacuations ordered in Greece as high winds and heat fuel wildfires
-
Senate Democrats Produce a Far-Reaching Climate Bill, But the Price of Compromise with Joe Manchin is Years More Drilling for Oil and Gas
-
Why Kim Kardashian Isn't Ready to Talk to Her Kids About Being Upset With Kanye West
-
Sister Wives’ Christine Brown Shares Glimpse Into Honeymoon One Year After Marrying David Woolley
-
Inside a bank run
-
By 2050, 200 Million Climate Refugees May Have Fled Their Homes. But International Laws Offer Them Little Protection
-
TikTok CEO says company is 'not an agent of China or any other country'