The chairman of a Chinese company that develops online games has agreed to pay $2,345,678 for a private lunch with billionaire investor Warren Buffett, winning a charity auction.
This year's auction was the 16th to benefit the Glide Foundation, a nonprofit in San Francisco's Tenderloin district that provides food, health care, rehabilitation and other services to the poor and homeless.
Glide said Zhu Ye, chairman of Beijing-based Dalian Zeus Entertainment Co, submitted the highest of 76 bids to win the five-day auction on eBay, which concluded on Friday night.
His bid was well below the $3,456,789 winning bid in 2012, still a record for an eBay charity auction, but will help Glide meet its $16 million annual budget. The 16 auctions have raised about $20.2 million.
"What we try to do is work to empower our people, to make sure that people find some way to have hope," the Rev. Cecil Williams, a Glide co-founder, said after the auction ended. "We were overjoyed when the count came in."