• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO

The Buffett lunch bubble

By
Colin Barr
Colin Barr
Down Arrow Button Icon
By
Colin Barr
Colin Barr
Down Arrow Button Icon
June 14, 2010, 9:40 AM ET
Add Fortune on Google for similar content.

The Warren Buffett bubble shows no sign of deflating.

An anonymous donor bid a record $2.6 million to arrange a lunch with Buffett, the billionaire investor who runs Berkshire Hathaway . That is up from last year’s $1.7 million and the previous high water mark of $2.1 million, set in 2008.



Check please

The hefty tab suggests that Buffett retains his glow in spite of the bruising he has taken this spring in defending two portfolio companies, Goldman Sachs and Moody’s , that aided and abetted the housing bubble.

Buffett’s defense of Goldman — which has been accused of failing to tell its clients it was helping others bet against them — was curious because he has long been a critic of the casino capitalism the trading firm has come to embody. His support of Moody’s was even more far fetched: he insisted it simply failed to see the housing bubble, blithely ignoring that the firm’s supposed value lay in alerting investors to potential dangers.

Regardless, Buffett remains one of the richest men in the nation and is still revered by many investors. That helps to explain why the tab for this year’s lunch will set the winning bidder back more than 100 times as much as the winning bid a decade ago.

In 2000, a former dot-commer named Peter Budlong took seven friends to the Stars restaurant in San Francisco to chat with Buffett about telecommunications, the Internet, and bridge. He paid a mere $25,000 for the privilege.

This year, that was the minimum bid. According to auction details posted on eBay, the lunch will take place at the Smith & Wollensky steakhouse in Manhattan “at a mutually agreed time and date to be determined by Mr. Buffett and the winning bidder.”

Of course, there are more troublesome bubbles than this. The winner, whoever he or she is, can surely afford the tab, and proceeds of the auction will go to the Glide Foundation, a San Francisco charity that helps the homeless. Those conditions weren’t evident in the housing bust, to say the least.

About the Author
By Colin Barr
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Markets feel relief as the U.S. and Iran agree to a ceasefire on their earlier ‘ceasefire’ that was looking at lot like a war over Hormuz
EnergyOil
Markets feel relief as the U.S. and Iran agree to a ceasefire on their earlier ‘ceasefire’ that was looking at lot like a war over Hormuz
By Jason MaJune 28, 2026
6 hours ago
Samsung, SK reportedly to invest $1.3 trillion over 10 years
AIChips
Samsung, SK reportedly to invest $1.3 trillion over 10 years
By Shinhye Kang, Seyoon Kim and BloombergJune 28, 2026
6 hours ago
Big-budget ‘Supergirl’ is among DC Studios’ worst flops for an opening weekend and was reportedly trimmed significantly after test screenings
Arts & EntertainmentMovies
Big-budget ‘Supergirl’ is among DC Studios’ worst flops for an opening weekend and was reportedly trimmed significantly after test screenings
By Jake Coyle and The Associated PressJune 28, 2026
8 hours ago
Fed’s Barkin warns of high inflation, but sees signs of relief
EconomyFederal Reserve
Fed’s Barkin warns of high inflation, but sees signs of relief
By Catarina Saraiva and BloombergJune 28, 2026
9 hours ago
Social Security is headed for a day of reckoning, and Congress is running out of time to save boomers. Lawmakers are proposing some hard choices
EconomySocial Security
Social Security is headed for a day of reckoning, and Congress is running out of time to save boomers. Lawmakers are proposing some hard choices
By Jason MaJune 28, 2026
10 hours ago
Trump’s U-turn on Iran sanctions would unravel decades of curbs
EconomyIran
Trump’s U-turn on Iran sanctions would unravel decades of curbs
By Daniel Flatley, Magdalena Del Valle, Jennifer A. Dlouhy, Jeff Mason and BloombergJune 28, 2026
11 hours ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
2 days ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
4 days ago
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
Success
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
By Orianna Rosa RoyleJune 28, 2026
19 hours ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
23 hours ago
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
Success
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
By Preston ForeJune 28, 2026
18 hours ago
Iran is forcing the U.S. into an escalation trap as a 'shadow war' over the Strait of Hormuz heats up that could kill the tenuous ceasefire
Politics
Iran is forcing the U.S. into an escalation trap as a 'shadow war' over the Strait of Hormuz heats up that could kill the tenuous ceasefire
By Jason MaJune 28, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.