As bidding for the last-ever chance to lunch with Berkshire Hathaway\u2019s chairman and CEO Warren Buffett reached the $3 million mark, the investing legend himself announced a $4 billion giveaway in stock to charity.<\/p>\n\n\n\n
Buffett will donate the proceeds of 14,412,000 Berkshire B shares BRK.B<\/a> <\/strong>\u2014 converted from 9,608 A shares BRK.A<\/a> <\/strong>\u2014 between five foundations, the company said<\/a> on Tuesday. The biggest amount, more than 11 million shares, will go to the Bill & Melinda Gates Foundation Trust, followed by more than 1.1 million to the Susan Thompson Buffett Foundation and the rest to the Sherwood Foundation, Howard G. Buffett and NoVo foundations.<\/p>\n\n\n\n Buffett, who has vowed to give away 99% of his fortune, now owns 229,016 A shares and 276 B shares worth more than $95 billion. He has donated more than half of his stake in the company.<\/p>\n\n\n\n Meanwhile, the bidding was heating up for the last annual luncheon with the Berkshire chairman, and the first since a two-year hiatus from the pandemic, with all proceeds going to Glide, a San Francisco-based charity that helps the homeless.<\/p>\n\n\n\n The winning bidder and up to seven guests for the Buffett lunch, which has raised more than $34 million to support Glide, will dine at one of his favorite restaurants \u2013 Smith & Wollensky in NYC.<\/p>\n\n\n\n The Ebay\u00a0EBAY<\/a>\u00a0<\/strong>auction that began Sunday with a starting bid of $25,000,\u00a0reached $3,000,100\u00a0<\/a>as of Wednesday, involving 8 bidders so far. Bidding will close Friday at 10:30 p.m. Eastern time.<\/p>\n\n\n\n While bidding tends to heat up towards the last day, the total is so far well below the record $4.57 million paid by Justin Sun, founder of cryptocurrency company TRON in the last luncheon before the pandemic. That amount surpassed a prior record paid of $3,456,789 to dine with the investing legend.<\/p>\n\n\n\n