Buffett Lunch Goes For $1 Million

The winning bidder at the investment guru's annual anti-poverty fundraiser plunked down $1,000,100 to have lunch with Warren Buffett on Friday.This year's top bid at the auction was well below last year's record of $3.5 million, and it was the smallest since 2007.

For the 14th year, Berkshire Hathaway CEO Buffett auctioned off a lunch invitation on eBay. The winner, as is common, bid anonymously.

Proceeds from the auction go to the San Francisco charity GLIDE. In its 50th year, GLIDE runs a number of anti-poverty and educational programs. It serves nearly 1 million meals each year to the poor. Since the auction began in 2000, it has raised $15.8 million for the organization.

All the bidders must be pre-qualified.The minimum bid was $25,000. The lunch will be held at New York City steakhouse Smith & Wollensky.