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good&nbsp;","listText":"Looks good&nbsp;","text":"Looks good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9989081573","repostId":"2275293810","repostType":4,"repost":{"id":"2275293810","kind":"highlight","pubTimestamp":1665751602,"share":"https://ttm.financial/m/news/2275293810?lang=&edition=fundamental","pubTime":"2022-10-14 20:46","market":"us","language":"en","title":"Uber Technologies Stock: Bear vs. Bull","url":"https://stock-news.laohu8.com/highlight/detail?id=2275293810","media":"Motley Fool","summary":"The ride-hailing and delivery company faces tough new challenges.","content":"<html><head></head><body><p><b>Uber Technologies</b>&#39; stock price plunged 10% on Oct. 11 after the U.S. Labor Department unveiled a new proposal that will force employers to reclassify some independent contractors -- including janitors, construction workers, delivery workers, and ride-share drivers -- as full-time employees. Labor Secretary Marty Walsh said that misclassification &#34;deprives workers of their federal labor protections, including their right to be paid their full, legally earned wages.&#34;</p><p>Uber, <b>Lyft</b>, <b>DoorDash</b>, and other gig economy companies had previously faced a similar assembly bill (AB5) in California, which they collectively countered with a ballot initiative called Proposition 22. Prop 22 was approved by the state&#39;s voters in late 2020 but subsequently ruled unconstitutional and unenforceable by a court in August 2021. Uber and its industry peers are appealing that ruling.</p><p>The new Labor Department proposal represents an escalation of that state conflict on a federal level and would reverse a Trump administration ruling, which actually made it easier for companies to reclassify their workers as independent contractors. This certainly sounds like a major headache for Uber, which could see its margins crumble if it reclassified all its drivers as employees. But is the market overreacting to the news? Let&#39;s review the bear and bull cases to decide.</p><h2>What the bears will say about Uber</h2><p>The bears will point out that even though Uber classifies its millions of drivers as independent contractors, it hasn&#39;t ever been profitable on a GAAP (generally accepted accounting principles) basis.</p><table border=\"1\" width=\"576\"><colgroup></colgroup><tbody><tr valign=\"TOP\"><th width=\"120\"><p>Period</p></th><th width=\"96\"><p>Q2 2022</p></th><th width=\"98\"><p>Q1 2022</p></th><th width=\"92\"><p>FY 2021</p></th><th width=\"98\"><p>FY 2020</p></th></tr><tr valign=\"TOP\"><td width=\"120\"><p>Revenue</p></td><td width=\"96\"><p>$8.07 billion</p></td><td width=\"98\"><p>$6.85 billion</p></td><td width=\"92\"><p>$17.46 billion</p></td><td width=\"98\"><p>$11.14 billion</p></td></tr><tr valign=\"TOP\"><td width=\"120\"><p>Net Income</p></td><td width=\"96\"><p>($2.60 billion)</p></td><td width=\"98\"><p>($5.93 billion)</p></td><td width=\"92\"><p>($496 million)</p></td><td width=\"98\"><p>($6.77 billion)</p></td></tr></tbody></table><p>Data source: Uber.</p><p>Analysts expect Uber&#39;s revenue to rise 79% to $31.32 billion this year, but for its net loss to widen to $8.85 billion -- partly due to its investment-related losses in companies like <b>Grab</b>, <b>DiDi Global</b>, Zomato, and Aurora -- followed by a narrower loss of $321 million in 2023. But if Uber still can&#39;t break even while mainly relying on lower-cost independent contractors, what happens if it&#39;s forced to reclassify those drivers as employees?</p><p>In its latest 10-K filing, Uber says its business &#34;would be adversely affected&#34; if its drivers &#34;were classified as employees, workers or quasi-employees instead of independent contractors.&#34; It also said that classification was &#34;being challenged in courts, by legislators, and by government agencies in the United States and abroad.&#34; It was already forced to grant its U.K. drivers paid vacations, rest breaks, and a minimum wage while using the app last year -- and that ruling could spark similar rulings in other countries.</p><h2>What the bulls will say about Uber</h2><p>The bulls will point out that Uber&#39;s number of monthly active platform consumers (MAPCs), total trips, and gross bookings have all been growing rapidly since it suffered a temporary slowdown during the pandemic:</p><table border=\"1\" width=\"591\"><colgroup></colgroup><tbody><tr valign=\"TOP\"><th width=\"201\"><p>Period</p></th><th width=\"82\"><p>Q2 2022</p></th><th width=\"72\"><p>Q1 2022</p></th><th width=\"84\"><p>FY 2021</p></th><th width=\"80\"><p>FY 2020</p></th></tr><tr valign=\"TOP\"><td width=\"201\"><p>MAPCs Growth</p></td><td width=\"82\"><p>21%</p></td><td width=\"72\"><p>17%</p></td><td width=\"84\"><p>27%</p></td><td width=\"80\"><p>(16%)</p></td></tr><tr valign=\"TOP\"><td width=\"201\"><p>Trips Growth</p></td><td width=\"82\"><p>24%</p></td><td width=\"72\"><p>18%</p></td><td width=\"84\"><p>27%</p></td><td width=\"80\"><p>(27%)</p></td></tr><tr valign=\"TOP\"><td width=\"201\"><p>Gross Bookings Growth</p></td><td width=\"82\"><p>33%</p></td><td width=\"72\"><p>35%</p></td><td width=\"84\"><p>56%</p></td><td width=\"80\"><p>(11%)</p></td></tr></tbody></table><p>Data source: Uber. Year-over-year growth.</p><p>They&#39;ll also tell you that Uber wisely divested many of its unprofitable divisions -- including several of its overseas units and the ATG (advanced technologies group) that had been developing driverless cars -- over the past few years to stabilize its margins. It gained its stakes in Grab, Didi, Zomato, Aurora, and other companies through those divestments.</p><p>If we exclude those investment-related losses and only focus on Uber&#39;s core business, we&#39;ll notice that its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) actually turned positive in the first half of 2022. Analysts expect it to generate a positive adjusted EBITDA of $1.55 billion for the full year and for that figure to <i>more than double</i> to $3.25 billion in 2023 as it further reins in its spending.</p><table border=\"1\" width=\"576\"><colgroup></colgroup><tbody><tr valign=\"TOP\"><th width=\"158\"><p>Period</p></th><th width=\"97\"><p>Q2 2022</p></th><th width=\"82\"><p>Q1 2022</p></th><th width=\"88\"><p>FY 2021</p></th><th width=\"79\"><p>FY 2020</p></th></tr><tr valign=\"TOP\"><td width=\"158\"><p>Adjusted EBITDA</p></td><td width=\"97\"><p>$364 million</p></td><td width=\"82\"><p>$168 million</p></td><td width=\"88\"><p>($774 million)</p></td><td width=\"79\"><p>($2.53 billion)</p></td></tr></tbody></table><p>Data source: Uber.</p><p>As for the Labor Department proposal, Uber said its own drivers &#34;consistently and overwhelmingly&#34; prefer the &#34;unique flexibility&#34; of being independent contractors. It also said it would hold &#34;constructive dialogue&#34; with the Labor Department to work through the issue. Uber&#39;s rival <b>Lyft </b>said there was &#34;no immediate or direct impact&#34; on its business and noted that the Obama administration had issued similar rules (many of which were overturned during the Trump administration), which didn&#39;t ultimately derail the growth of gig-economy apps.</p><p>Lastly, the bulls will note that Uber&#39;s enterprise value of $51.4 billion values it at just 1.4 times next year&#39;s sales and 16 times its adjusted EBITDA. Those low valuations suggest the regulatory threats have already been baked into its stock price.</p><h2>Which thesis makes more sense?</h2><p>I believe the fears about the Labor Department proposal are overblown and that Uber, Lyft, and their peers will likely band together again to reach a Prop 22-like compromise with the government if it&#39;s actually passed into law. I also think Uber&#39;s stock is undervalued right now. That said, I wouldn&#39;t invest in Uber in this bear market, which punishes imperfect growth stocks. Instead, I&#39;d prefer to stick with more reliable growth plays until Uber&#39;s regulatory headwinds dissipate.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Uber Technologies Stock: Bear vs. Bull</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUber Technologies Stock: Bear vs. Bull\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-14 20:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/10/14/uber-technologies-stock-bear-vs-bull/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Uber Technologies' stock price plunged 10% on Oct. 11 after the U.S. Labor Department unveiled a new proposal that will force employers to reclassify some independent contractors -- including janitors...</p>\n\n<a href=\"https://www.fool.com/investing/2022/10/14/uber-technologies-stock-bear-vs-bull/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步"},"source_url":"https://www.fool.com/investing/2022/10/14/uber-technologies-stock-bear-vs-bull/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2275293810","content_text":"Uber Technologies' stock price plunged 10% on Oct. 11 after the U.S. Labor Department unveiled a new proposal that will force employers to reclassify some independent contractors -- including janitors, construction workers, delivery workers, and ride-share drivers -- as full-time employees. Labor Secretary Marty Walsh said that misclassification \"deprives workers of their federal labor protections, including their right to be paid their full, legally earned wages.\"Uber, Lyft, DoorDash, and other gig economy companies had previously faced a similar assembly bill (AB5) in California, which they collectively countered with a ballot initiative called Proposition 22. Prop 22 was approved by the state's voters in late 2020 but subsequently ruled unconstitutional and unenforceable by a court in August 2021. Uber and its industry peers are appealing that ruling.The new Labor Department proposal represents an escalation of that state conflict on a federal level and would reverse a Trump administration ruling, which actually made it easier for companies to reclassify their workers as independent contractors. This certainly sounds like a major headache for Uber, which could see its margins crumble if it reclassified all its drivers as employees. But is the market overreacting to the news? Let's review the bear and bull cases to decide.What the bears will say about UberThe bears will point out that even though Uber classifies its millions of drivers as independent contractors, it hasn't ever been profitable on a GAAP (generally accepted accounting principles) basis.PeriodQ2 2022Q1 2022FY 2021FY 2020Revenue$8.07 billion$6.85 billion$17.46 billion$11.14 billionNet Income($2.60 billion)($5.93 billion)($496 million)($6.77 billion)Data source: Uber.Analysts expect Uber's revenue to rise 79% to $31.32 billion this year, but for its net loss to widen to $8.85 billion -- partly due to its investment-related losses in companies like Grab, DiDi Global, Zomato, and Aurora -- followed by a narrower loss of $321 million in 2023. But if Uber still can't break even while mainly relying on lower-cost independent contractors, what happens if it's forced to reclassify those drivers as employees?In its latest 10-K filing, Uber says its business \"would be adversely affected\" if its drivers \"were classified as employees, workers or quasi-employees instead of independent contractors.\" It also said that classification was \"being challenged in courts, by legislators, and by government agencies in the United States and abroad.\" It was already forced to grant its U.K. drivers paid vacations, rest breaks, and a minimum wage while using the app last year -- and that ruling could spark similar rulings in other countries.What the bulls will say about UberThe bulls will point out that Uber's number of monthly active platform consumers (MAPCs), total trips, and gross bookings have all been growing rapidly since it suffered a temporary slowdown during the pandemic:PeriodQ2 2022Q1 2022FY 2021FY 2020MAPCs Growth21%17%27%(16%)Trips Growth24%18%27%(27%)Gross Bookings Growth33%35%56%(11%)Data source: Uber. Year-over-year growth.They'll also tell you that Uber wisely divested many of its unprofitable divisions -- including several of its overseas units and the ATG (advanced technologies group) that had been developing driverless cars -- over the past few years to stabilize its margins. It gained its stakes in Grab, Didi, Zomato, Aurora, and other companies through those divestments.If we exclude those investment-related losses and only focus on Uber's core business, we'll notice that its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) actually turned positive in the first half of 2022. Analysts expect it to generate a positive adjusted EBITDA of $1.55 billion for the full year and for that figure to more than double to $3.25 billion in 2023 as it further reins in its spending.PeriodQ2 2022Q1 2022FY 2021FY 2020Adjusted EBITDA$364 million$168 million($774 million)($2.53 billion)Data source: Uber.As for the Labor Department proposal, Uber said its own drivers \"consistently and overwhelmingly\" prefer the \"unique flexibility\" of being independent contractors. It also said it would hold \"constructive dialogue\" with the Labor Department to work through the issue. Uber's rival Lyft said there was \"no immediate or direct impact\" on its business and noted that the Obama administration had issued similar rules (many of which were overturned during the Trump administration), which didn't ultimately derail the growth of gig-economy apps.Lastly, the bulls will note that Uber's enterprise value of $51.4 billion values it at just 1.4 times next year's sales and 16 times its adjusted EBITDA. Those low valuations suggest the regulatory threats have already been baked into its stock price.Which thesis makes more sense?I believe the fears about the Labor Department proposal are overblown and that Uber, Lyft, and their peers will likely band together again to reach a Prop 22-like compromise with the government if it's actually passed into law. I also think Uber's stock is undervalued right now. That said, I wouldn't invest in Uber in this bear market, which punishes imperfect growth stocks. Instead, I'd prefer to stick with more reliable growth plays until Uber's regulatory headwinds dissipate.","news_type":1},"isVote":1,"tweetType":1,"viewCount":76,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9040008745,"gmtCreate":1655588451887,"gmtModify":1676535664634,"author":{"id":"4097548758166330","authorId":"4097548758166330","name":"Ryanbalan","avatar":"https://static.tigerbbs.com/5d5b2a35bc14f525e53767cfe9d26a0b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097548758166330","authorIdStr":"4097548758166330"},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9040008745","repostId":"2244756701","repostType":4,"repost":{"id":"2244756701","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1655532541,"share":"https://ttm.financial/m/news/2244756701?lang=&edition=fundamental","pubTime":"2022-06-18 14:09","market":"us","language":"en","title":"Warren Buffett Charity Lunch Fetches Winning Bid of $19 Mln","url":"https://stock-news.laohu8.com/highlight/detail?id=2244756701","media":"Reuters","summary":"A lucky, and likely wealthy, person bid more than $19 million to dine with Warren Buffett, in the 21","content":"<html><head></head><body><p>A lucky, and likely wealthy, person bid more than $19 million to dine with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a private lunch to benefit a San Francisco charity.</p><p>The winning bid in the <a href=\"https://laohu8.com/S/EBAY\">eBay</a> auction that ended on Friday night far surpassed the previous record of $4.57 million, paid in 2019 by cryptocurrency entrepreneur Justin Sun, although the new winner&#39;s identity could not immediately be determined.</p><p>Proceeds benefit Glide, a nonprofit in San Francisco&#39;s Tenderloin district that helps the poor, homeless or those battling substance abuse. Glide offers meals, shelter, HIV and hepatitis C tests, job training and children&#39;s programs.</p><p>Buffett, 91, the chairman and chief executive of Berkshire Hathaway Inc   , has raised more than $53.2 million for Glide in the 21 auctions, which began in 2000.</p><p>An eBay spokeswoman said the lunch was the most expensive item ever sold on the company&#39;s website to benefit charity.</p><p>No auctions were held in 2020 and 2021 because of the COVID-19 pandemic.</p><p>Buffett became a supporter of Glide after his first wife Susan, who died in 2004, introduced him to the charity, where she had been volunteering.</p><p>He has also pledged to give away nearly all of his fortune. Buffett was worth $93.4 billion on Friday, ranking seventh worldwide, according to Forbes magazine.</p><p>This year&#39;s auction winner and up to seven guests will dine with Buffett at the Smith &amp; Wollensky steakhouse in <a href=\"https://laohu8.com/S/MHC.AU\">Manhattan</a>.</p><p>Buffett will talk about almost anything, but not where he may invest next.</p><p>Hedge fund managers David Einhorn and Ted Weschler are among previous auction winners.</p><p>Weschler became a Berkshire portfolio manager after paying a combined $5.25 million to win the 2010 and 2011 auctions.</p><p>Berkshire owns dozens of companies including the BNSF railroad, Geico car insurance, energy, manufacturing and retail businesses, and stocks such as Apple Inc    and $Bank of America Corp(BAC-N)$   .</p><p>Buffett still owns nearly 16% of the Omaha, Nebraska-based conglomerate, despite having donated more than half of his shares since 2006, including $4 billion on June 14.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett Charity Lunch Fetches Winning Bid of $19 Mln</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett Charity Lunch Fetches Winning Bid of $19 Mln\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-06-18 14:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A lucky, and likely wealthy, person bid more than $19 million to dine with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a private lunch to benefit a San Francisco charity.</p><p>The winning bid in the <a href=\"https://laohu8.com/S/EBAY\">eBay</a> auction that ended on Friday night far surpassed the previous record of $4.57 million, paid in 2019 by cryptocurrency entrepreneur Justin Sun, although the new winner&#39;s identity could not immediately be determined.</p><p>Proceeds benefit Glide, a nonprofit in San Francisco&#39;s Tenderloin district that helps the poor, homeless or those battling substance abuse. Glide offers meals, shelter, HIV and hepatitis C tests, job training and children&#39;s programs.</p><p>Buffett, 91, the chairman and chief executive of Berkshire Hathaway Inc   , has raised more than $53.2 million for Glide in the 21 auctions, which began in 2000.</p><p>An eBay spokeswoman said the lunch was the most expensive item ever sold on the company&#39;s website to benefit charity.</p><p>No auctions were held in 2020 and 2021 because of the COVID-19 pandemic.</p><p>Buffett became a supporter of Glide after his first wife Susan, who died in 2004, introduced him to the charity, where she had been volunteering.</p><p>He has also pledged to give away nearly all of his fortune. Buffett was worth $93.4 billion on Friday, ranking seventh worldwide, according to Forbes magazine.</p><p>This year&#39;s auction winner and up to seven guests will dine with Buffett at the Smith &amp; Wollensky steakhouse in <a href=\"https://laohu8.com/S/MHC.AU\">Manhattan</a>.</p><p>Buffett will talk about almost anything, but not where he may invest next.</p><p>Hedge fund managers David Einhorn and Ted Weschler are among previous auction winners.</p><p>Weschler became a Berkshire portfolio manager after paying a combined $5.25 million to win the 2010 and 2011 auctions.</p><p>Berkshire owns dozens of companies including the BNSF railroad, Geico car insurance, energy, manufacturing and retail businesses, and stocks such as Apple Inc    and $Bank of America Corp(BAC-N)$   .</p><p>Buffett still owns nearly 16% of the Omaha, Nebraska-based conglomerate, despite having donated more than half of his shares since 2006, including $4 billion on June 14.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4575":"芯片概念","BK4524":"宅经济概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4501":"段永平概念","BK4579":"人工智能","BK4550":"红杉资本持仓","QNETCN":"纳斯达克中美互联网老虎指数","BK4574":"无人驾驶","BK4122":"互联网与直销零售","BK4207":"综合性银行","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","AAPL":"苹果","BK4512":"苹果概念","BK4504":"桥水持仓","BRK.B":"伯克希尔B","BK4170":"电脑硬件、储存设备及电脑周边","BRK.A":"伯克希尔","BK4176":"多领域控股","EBAY":"eBay","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2244756701","content_text":"A lucky, and likely wealthy, person bid more than $19 million to dine with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a private lunch to benefit a San Francisco charity.The winning bid in the eBay auction that ended on Friday night far surpassed the previous record of $4.57 million, paid in 2019 by cryptocurrency entrepreneur Justin Sun, although the new winner's identity could not immediately be determined.Proceeds benefit Glide, a nonprofit in San Francisco's Tenderloin district that helps the poor, homeless or those battling substance abuse. Glide offers meals, shelter, HIV and hepatitis C tests, job training and children's programs.Buffett, 91, the chairman and chief executive of Berkshire Hathaway Inc   , has raised more than $53.2 million for Glide in the 21 auctions, which began in 2000.An eBay spokeswoman said the lunch was the most expensive item ever sold on the company's website to benefit charity.No auctions were held in 2020 and 2021 because of the COVID-19 pandemic.Buffett became a supporter of Glide after his first wife Susan, who died in 2004, introduced him to the charity, where she had been volunteering.He has also pledged to give away nearly all of his fortune. Buffett was worth $93.4 billion on Friday, ranking seventh worldwide, according to Forbes magazine.This year's auction winner and up to seven guests will dine with Buffett at the Smith & Wollensky steakhouse in Manhattan.Buffett will talk about almost anything, but not where he may invest next.Hedge fund managers David Einhorn and Ted Weschler are among previous auction winners.Weschler became a Berkshire portfolio manager after paying a combined $5.25 million to win the 2010 and 2011 auctions.Berkshire owns dozens of companies including the BNSF railroad, Geico car insurance, energy, manufacturing and retail businesses, and stocks such as Apple Inc    and $Bank of America Corp(BAC-N)$   .Buffett still owns nearly 16% of the Omaha, Nebraska-based conglomerate, despite having donated more than half of his shares since 2006, including $4 billion on June 14.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}