China’s Dalian Zeus Entertainment's bid of $2.35 million made it win this year’s The Power of One Lunch, the 16th Annual eBay Power Lunch with Warren Buffet Auction, which is for the benefit of GLIDE Foundation.
Zhu Ye, chairman of the Beijing-based network game company, outbid 75 other bidders. The auction started on May 31 and concluded on June 5.
Warren Buffet is a prominent American investor and the CEO of Berkshire Hathaway. Dubbed as the “Oracle of Omaha,” the octogenarian billionaire has been helping GLIDE for more than a decade as part of his philanthropic work.
Zhu will share a power lunch with Buffet at the classic steakhouse Smith & Wollensky in Manhattan, New York City. In a news article posted at the company website, he said he wants to discuss with Buffet the “future development” of Dalian Zeus.
Zhu is not the first Asian who participated in the GLIDE auction and won. He is not also the only Chinese.
Singaporean investor Jason Choo bid $202,100 in 2005. Choo and his wife had lunch for three hours with Buffet.
Two years after, Duan Yongping, the Chinese founder of Subor Electronics Industry and BBK Electronics Group bid $620,100. Duan described Buffet to The Financial Times as someone who “uses the most simple words to explain the most complicated things.”
Indian businessman Mohnish Pabrai bid $650,100 in 2008. He said to CNBC that the lunch was “worth every penny.”
Chinese hedge fund manager Danyang Zhao bid $2.11 million in 2009. Danyang said to Fortune that Buffet is “just like your friend.”
Andy Chua from Singapore bid $2,166,766 last year.
According to its website, California-based GLIDE Foundation aims “to create a radically inclusive, just and loving community mobilized to alleviate suffering and break the cycles of poverty and marginalization.”
The online charity auction started in 2000. As per established rule, the winning bidder is entitled to pick a maximum of seven persons to join in.
The identity of the first person to win the bid at $25,000 remains anonymous up to this day.