Bidding for Buffett lunch hits US$1m

An auction for well-heeled fans of Warren Buffett to eat lunch with the billionaire in support of a San Francisco charity that helps the homeless and impoverished got off to a fast start, with bidding quickly hitting seven figures.

The top bid was US$1 million as of 1 p.m. EDT on Monday, and had been made within two minutes of the auction’s Sunday night launch.

Bids often surge near the end of the eBay auction, which concludes on Friday at 10.30 p.m. EDT.

Buffett, the chairman of Berkshire Hathaway Inc, has raised $23.6 million in 17 years of auctions for Glide.

That included $3,456,789 from last year’s winner, a woman who chose to remain anonymous, tying a record set in 2012.

Glide uses its $18 million annual budget to provide more than 750,000 free meals, emergency shelter f or 8,500 people, 2,600 HIV and Hepatitis C tests and day care and after school programs for nearly 450 children.

Located in San Francisco, Glide was cofounded and is led by the Rev Cecil Williams and his wife Janice Mirikitani.