Power Lunch

How much would you spend to have lunch with one of the world's most revered investors? One lucky bidder, who remains anonymous, paid $1.68 million at auction last week for the privilege to meet up with the billionaire Berkshire-Hathaway chairman Warren Buffett at New York's Smith & Wollensky steak house.

Past winners say it's not just about grilling Buffett about investment strategies, though. According to this Bloomberg story, the 2007 winner says after the lunch, he gained increased access to the renowned "Oracle of Omaha," and they have continued their relationship since.

The proceeds will go to San Francisco's Glide Foundation, where Buffett's late wife volunteered, and which benefits the homeless and provides other social services. The lunches have raised $5.92 million since 2000.

Today, Buffett also made a $1.5 billion contribution to fellow billionaire and bridge partner Bill Gates' foundation, following his 2006 pledge to give away 85 percent of his wealth to the charity.

Still think a million-dollar bid isn't worth it? Last year's winner, a Chinese hedge fund manager, says his fund has seen a 600 percent return in the past six years thanks to tips he learned from Buffett. Also, we're pretty sure he picks up the tab.