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The bid surpassed last year’s, which was $3.3 million, and exceeded the previous record, which was $3,456,789, according to The Wall Street Journal. The person who made the winning bid can bring up to seven friends to go to lunch with Buffett at Smith & Wollensky steakhouse in New York City.
The founder of the steakhouse makes an annual donation to the Glide Foundation, which helps the homeless in San Francisco, The Wall Street Journal reported. Buffett began working with Glide through his late wife, Susan, when she volunteered at the charity. Susan Buffett died in 2004.
The annual auction has helped raise $30 million for Glide. The auction began in 2000, and those who have made winning bids in the past include David Einhorn, an investor and hedge fund manager.
Earlier this week, the auction made headlines after the price of having lunch with one of the richest people in the world topped $3.5 million.
The Associated Press contributed to this report.