Every year, fans of Warren Buffett bid for the chance to win a private lunch with the world’s most famous investor. Since the charity auctions began in 2000, winners have included Ted Weschler, now a portfolio manager at Buffett’s company Berkshire Hathaway (US:BRK.A), and hedge fund manager David Einhorn.
But, in 2019, the top bid came from someone a long way from Wall Street. Justin Sun, a Chinese cryptocurrency entrepreneur, shelled out $4.6m (£3.3m) to share a table with Buffett, a man who once derided bitcoin as “rat poison squared”.
On one side a millennial crypto bull, on the other a pertinacious 89-year old stock picker. The Sage of Omaha may not have realised it, but he was now dining on steaks with one of the biggest challengers to his messianic hold on the investment community.