A Chinese online game developer has won the 16th annual charity auction for a private lunch with Warren Buffett. On Friday, Beijing based Da Lian Zeus Entertainment Co., put up a winning bid of $2,345,678 for the opportunity to dine with Buffett and pick his brain.

The money acquired from the bid is expected to be donated to the Glide Foundation, which uses the money to provide for the poor and homeless of San Francisco, where it is located.

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The Associated Press reported that this year's winning bid, which was interestingly made with a company's name rather than individual's, did not surpass the charity's record. The most that has been paid for an opportunity to have lunch with Buffett is $3,456,789 - the anonymous bidder won the 2012 auction.

The Glide Foundation and 84-year-old Buffett have raised about $17.9 million since the start of the auction in 2000. The non-profit organization has an estimated annual budget of $18 million and banks on the event as a huge source of funding. Last year, the winning bid was $2.16 million; it was posted by Andy Chua, a Singaporean.

Buffett, who is a business magnate, investor and philanthropist, says he has good memories of past winners. He added that during the lunches, which typically lasts for about three hours, winner can ask him any question they choose. However, they cannot ask the 'Wizard of Omaha' what business venture he plans to invest in next.

"Every year, it's an interesting experience for me," Buffett said Friday during an interview. "I've met a lot of great people in connection with it. Made new friends. Hired a person. Had a lot of good steaks, so I can't complain."

The winner can invite at most seven friends for the once-in-a-lifetime meal, which is usually steak for lunch at Smith & Wollensky in New York. Winners can also choose to have dinner instead in Omaha, Nebraska, Buffett's hometown.

Smith & Wollensky steakhouse reportedly donates about $10,000 yearly to the Glide Foundation in order to host the auction lunch.

The Wall Street Journal reports that Buffett was introduced to the Glide Foundation and the idea of the auction by his first wife Susan Buffett. Mrs. Buffett, who died in 2004, had the idea for the charity auction in 2000.

The first charity auction reportedly raised $25,000. However, the price tag shot up after the bids were made online. More people from different part of the globe can bid and this has had a positive effect on the general outcome. The proceeds garnered have not been less than a million dollars since 2008.

TagsDa Lian Zeus Entertainment Co., Warren Buffett, Glide Foundation, Warren Buffet Charity, Warren Buffet Charity Dinner, Warren Buffer Charity Lunch, Warren Buffett Charity Auction, Warren Buffett lunch charity