Warren Buffett Watch: Tron CEO’s $4.6M Lunch Is in July in San Francisco
By CCN Markets: Tron CEO Justin Sun has set July 25 as the date for his $4.6 million lunch with billionaire investor Warren Buffett. And it’s going to take place in Silicon Valley instead of Manhattan, as originally scheduled.
Justin Sun’s Bid Was Record-Setting
Sun made the announcement on Twitter, where he revealed that he chose San Francisco to shine a spotlight on the city’s homelessness crisis. The $4.6 million that Sun shelled out was the highest ever paid for the annual charity lunch.
“The 20th annual eBay Power Of One Lunch with Warren Buffett will take place July 25 in San Francisco! We decided to move this year’s lunch to a restaurant in the Bay Area to further shine the spotlight on Glide’s amazing charitable efforts! More details coming soon!”
The Glide Foundation is a San Francisco charity that Buffett’s late wife, Susan, had supported. Glide provides meals for the homeless and helps domestic violence victims.
Sun: I’m Representing the Crypto Community
When Sun won the auction last week, the location for the lunch was supposed to be Smith & Wollensky, a steakhouse in New York. However, Sun has decided to switch things up.
One thing Sun has not changed is his goal, which is to promote cryptocurrencies to Warren Buffett. As CCN reported, the legendary investor has derisively dismissed bitcoin as “rat poison squared.”
Buffett has also repeatedly trashed bitcoin and all cryptocurrencies as worthless, speculative gambling. Moreover, he predicts that crypto will eventually come to a bad ending.
Sun admits that it’s unrealistic to change Buffett’s mind completely but told Yahoo Finance that he hopes to soften his stance a bit.
“We want this lunch to be a bridge between the cryptocurrency community and the traditional investor. It might be unrealistic to convince Warren Buffett, just in three hours, to buy cryptocurrencies. But we want to show him the recent progress of cryptocurrency and blockchain technology.”
Sun: Buffett’s Investing Strategies Made Me Rich
While many in the crypto industry expressed concern that Sun would use his lunch to only promote his Tron cryptocurrency, Justin underscored that he’s an ambassador for the entire ecosystem.
“It’s not only about Tron itself. It’s about crypto and blockchain, the whole industry.”
Sun says he was happy to pay $4.6 million for the lunch because he’s a huge fan of Buffett’s investing strategy — which has paid huge dividends.
“I’ve made lots of money from these strategies. So this is like a payback to Warren Buffett.”
Warren Buffett is from Omaha, Neb., and Sun’s Twitter followers suggested the lunch should be held there.
About The Author
Samantha Chang is a financial editor who writes about cryptocurrencies and business at CCN and about politics at BizPac Review. She is a law school graduate and an alum of the University of Pennsylvania who enjoys finance, flowers, and fitness. Email her at [email protected] or follow her on Twitter at Samantha_Chang.
This article was edited by Gerelyn Terzo.