Current:Home > MarketsWarren Buffett has left the table. Homeless charity asks investors to bid on meal with software CEO -Wealth Empowerment Zone
Warren Buffett has left the table. Homeless charity asks investors to bid on meal with software CEO
PredictIQ Quantitative Think Tank Center View
Date:2025-04-07 22:58:16
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! (491)
Related
- Audit: California risked millions in homelessness funds due to poor anti-fraud protections
- Tropical low off northeast Australia reaches cyclone strength
- Groundwater depletion accelerating in many parts of the world, study finds
- UN court to issue ruling Friday on South Africa’s request for order to halt Israel’s Gaza offensive
- Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
- Ohio Legislature puts tobacco control in the state’s hands after governor’s veto
- Japan’s exports surge 10% in December on strong demand for autos, revived trade with China
- Death toll in southwestern China landslide rises to 34 and 10 remain missing
- Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
- Cease-fire efforts for Israel-Hamas war gain steam. But an agreement still appears elusive
Ranking
- Vance jokes he’s checking out his future VP plane while overlapping with Harris at Wisconsin airport
- The Smiths guitarist calls for Donald Trump to 'shut down' using band's music at rallies
- Biden sending senior West Wing aides Mike Donilon, Jennifer O'Malley Dillon to oversee 2024 reelection campaign
- Saudi Arabia opens its first liquor store in over 70 years as kingdom further liberalizes
- Matt Damon remembers pal Robin Williams: 'He was a very deep, deep river'
- Green Bay Packers fire defensive coordinator Joe Barry after three seasons
- Federal prosecutors charge 40 people after four-year probe of drug trafficking in Mississippi
- Israel says 24 soldiers killed in Gaza in deadliest day in war with Hamas since ground operations launched
Recommendation
'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
FEMA devotes more resources to outstanding claims filed by New Mexico wildfire victims
Deputies find 5 dead people in a desert community in Southern California
Biden vetoes GOP measure that aimed to block White House policy on foreign content in EV chargers
Tony Hawk drops in on Paris skateboarding and pushes for more styles of sport in LA 2028
Vatican tribunal rejects auditor’s wrongful termination lawsuit in a case that exposed dirty laundry
A record-size blanket of smelly seaweed could ruin your spring beach trip. What to know.
China landslide death toll hits 20 with some 24 missing