Investor Turns Lunch Into A Job With Warren Buffett

Every year billionaire Warren Buffet auctions himself off as a lunch date to raise money for a San Francisco charity. Fortune magazine reports Ted Weschler has paid about $5 million for the last two lunches. It turns out Buffett liked what he saw in Weschler, and hired him as a top manager for his Berkshire Hathaway portfolio.

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DAVID GREENE, Host:

Our last word in business today is career investment. Every year, billionaire Warren Buffet auctions himself off as a lunch date to raise money for a San Francisco charity. The winners are normally kept secret. Fortune magazine, though, has revealed the name of the man who has won the last two lunches. Ted Weschler paid a total of about $5 million for those meals with Buffet. Weschler is, himself, an investor. For the last 12 years, he's run a successful hedge fund - and turns out those pricey lunches weren't just a chance for Weschler to learn about the Oracle of Omaha. It turns out Buffett learned about Weschler's investing abilities and he liked what he saw, so Buffet hired him. Yesterday, Buffett announced he's tapped Weschler as a top manager for his Berkshire Hathaway portfolio.

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GREENE: And that is the business news from MORNING EDITION on NPR News. I'm David Greene.

STEVE INSKEEP, Host:

And I'm Steve Inskeep.

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