A lucky, and very wealthy, person bid more than $19 million to dine with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a private lunch to benefit a San Francisco charity.
The winning bid in the eBay auction that ended on Friday night far surpassed the previous record of $4.57m, paid in 2019 by cryptocurrency entrepreneur Justin Sun, although the new winner's identity could not immediately be determined.
Proceeds benefit Glide, a non-profit in San Francisco's Tenderloin district that helps the poor, homeless or those battling substance abuse. Glide offers meals, shelter, HIV and hepatitis C tests, job-training and children's programmes.
Mr Buffett, 91, the chairman and chief executive of Berkshire Hathaway, has raised more than $53.2m for Glide in the 21 auctions, which began in 2000.
An eBay spokeswoman said the lunch was the most expensive item ever sold on the company's website to benefit charity.
No auctions were held in 2020 and 2021 because of the Covid-19 pandemic.
Mr Buffett became a supporter of Glide after his first wife Susan, who died in 2004, introduced him to the charity, where she had been volunteering.
He has also pledged to give away nearly all of his fortune. Mr Buffett was worth $93.4 billion on Friday, ranking seventh worldwide, Forbes magazine reported.
This year's auction winner and up to seven guests will dine with Mr Buffett at the Smith & Wollensky steakhouse in Manhattan.
Mr Buffett will talk about almost anything, but not where he may invest next.
Hedge fund managers David Einhorn and Ted Weschler are among previous auction winners.
Mr Weschler became a Berkshire portfolio manager after paying a combined $5.25m to win the 2010 and 2011 auctions.
Berkshire owns dozens of companies including the BNSF railroad, Geico car insurance, energy, manufacturing and retail businesses, and stocks such as Apple and Bank of America.
Mr Buffett still owns nearly 16 per cent of the Omaha, Nebraska-based conglomerate, despite having donated more than half of his shares since 2006, including $4bn on June 14.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
MATCH INFO
Qalandars 112-4 (10 ovs)
Banton 53 no
Northern Warriors 46 all out (9 ovs)
Kumara 3-10, Garton 3-10, Jordan 2-2, Prasanna 2-7
Qalandars win by six wickets
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APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
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Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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The Brutalist
Director: Brady Corbet
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Rating: 3.5/5
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
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Funding: Privately funded
Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
