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Buffett drew a top offer of $118,000 for an all-you-can-eat tour of a See’s Candies factory; “It’s an opportunity to see the iconic Oracle of Omaha in an unconventional setting,”

Buffett Tops Reese Witherspoon as Charity Auction Draw

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Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc. (BRK/A), drew a top offer of $118,000 for an all-you-can-eat tour of a See’s Candies factory, with less than 3 hours left in the charity auction. Bidding has climbed from less than $50,000 earlier today and $17,000 when it began on July 25. Buffett is among celebrities who are supporting auctions to benefit Communities in Schools of Los Angeles, a high school dropout-prevention program. The top offer for lunch with actress Reese Witherspoon was $6,000. Bidding is scheduled to end today at 4:20 p.m. in New York for the lunch and two minutes later for the candy tour. Buffett, 82, has committed most of his wealth to charity and encouraged others to increase giving. He helped raise more than $15 million over 14 years for San Francisco’s Glide Foundation through an annual auction in which he joins the winner for lunch. Bidders for the See’s auction are vying for a half-day tour for four people at the Los Angeles factory. “It’s an opportunity to see the iconic Oracle of Omaha in an unconventional setting,” Coppy Holzman, chief executive officer of Charitybuzz.com, which hosts the auction, said today in an interview. “Anytime Warren Buffett agrees to lend his name, and his time to a charity, it’s a really great thing.” Buffett, the world’s third-richest man, will sign an autograph for the winner, who can take a photo, according to the website. The billionaire won’t be guiding the tour. “Before or after your tour, Mr. Buffett will demonstrate the only acceptable way to eat a bonbon,” Charitybuzz.com said on its website. Buffett bought See’s in 1972 at the urging of Berkshire (BRK/B) Vice Chairman Charles Munger. Omaha, Nebraska-based Berkshire announced plans in May to expand operations of the 92-year-old candy maker to new markets in the Midwest, South and East in the coming years.

To contact the reporter on this story: Megan Hickey in New York at mhickey18@bloomberg.net

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About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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