Economics is often described as the study of scarcity. Here’s one extremely scarce item that will cost dearly — lunch with the Oracle of Omaha, Warren Buffett.
Buffett, who heads the investment giant Berkshire Hathaway (NYSE:BRK.B) (BRK.B), is auctioning off for the last time an opportunity to pick his brain over lunch. The top bid with ~9 hours left in the bidding is $12.3M.
That’s more than double the previous record of $4.57M when crypto entrepreneur Justin Sun won the auction in 2019, the last time that Buffett held the auction to benefit the Glide Foundation, which focuses on social justice and social services in communities. The 2018 auction brought in $3.3M for the charity.
The most recent bid apparently rules out LunchDao, which raised 706 ether (ETH-USD) as of May 27 and ended fundraising on May 28. At that level, the decentralized autonomous organization’s fundraising amounted to ~$760K in Friday afternoon, down from its $1.3M value on May 27.