Warren Buffet is one of those investors who have actually decided to part a huge chunk of their wealth to social causes. A noted philanthropist and of course, the 3rd richest man in the world in 2011, Warren Buffet is known for his deep insights into many topics and areas. He usually interacts with the affluent members of the world once a year in order to raise money for his philanthropic causes.
Warren Buffet’s name is so important that many investors and millionaires find it a promising PR exercise to be associated with him somehow. Thus, his philanthropic, fund-raising luncheons are usually auctioned off, and they fetch a lot of money. This time around, an anonymous bidder has paid over $2.6 million for the coveted luncheon. Money from the auction would go towards the Bill & Melinda Gates Foundation. Of course, we need not discuss what the Gates Foundation does. Usually, during such luncheons, Buffet discusses every topic that the winner chooses to talk about, except for future investment ideas which would of course not be an appropriate topic to talk about.
The luncheon would take place at the New York’s Smith & Wollensky’s steak house and the lucky winner would surely get enough PR that whatever he plans to do in his life, he would be able to get attention for his name would be indexed along with Warren Buffet’s name in search engines, and that could be the best PR exercise possible for the bidder. Of course, for Mr. Buffet it is just a luncheon, and all the money would go towards GLIDE Foundation.