To Top

Crypto founder paid $4.6 million to have lunch with Warren Buffett

The cryptocurrency founder Justin Sun announced in a tweet on Monday morning that he had secured a lunch with Warren Buffett after bidding a record $4,567,888 in a charity auction. Sun, who is based in Singapore, is originally from China, where the number “8” is known to signify good luck.

The lunch, which is presented by eBay and the Glide Foundation, will be held at the famed steakhouse Smith & Wollensky in New York City. The auction was hosted exclusively on eBay,with final bids due May 31. As in previous years, 100% of the proceeds were donated to the Glide Foundation, a San Francisco-based charity which provides local services to the homeless.

Sun is the founder of  the cryptocurrency “tron,” which is a top 10 “crypto network,” according to Sun’s LinkedIn profile. He has also founded Peiwo, a Chinese peer-to-peer communications app, and is a self-described “protégé” of Jack Ma, the famed billionaire and founder of Alibaba. Sun graduated from Hupan University, which was founded by Ma, and has reportedly made a donation of $1.5 million to his alma mater.

The cryptobull also tweeted that he would invite other blockchain industry leaders to meet with Buffett, with the hopes that the meeting would “benefit everyone.” Buffett previously referred to bitcoin, the leading cryptocurrency, as “rat poison squared.’

Sun hopes he can shift the billionaire’s views on cryptocurrencies and blockchain technologies. “It is very common in investment circles that people will change their minds,” he told Bloomberg.

Buffett’s business partner Charlie Munger has also strongly criticized digital currencies.

“I think the people who are professional traders that go into trading cryptocurrencies, it is just disgusting,” Munger said. “It is like somebody else is trading turds and you decide ‘I can’t be left out.'”

Munger is not expected to attend the luncheon.

As of current trading, the $4.6 million bid is equivalent to 543.6 bitcoins and 119.3 million trons. There are more than 66 billion trons in circulation, with a total market cap of $2.6 billion at current prices, according to the industry website

It is not clear how much tron Sun holds, but a third of the cryptocurrency, worth some $800 million, is not in circulation.

Tron is up more than 100% this year.

You must be logged in to post a comment Login

More in Strategy

  • How to Obtain a European Passport the Easy Way

    Warren Buffett has famously quipped that his preferred holding period for an investment is “forever.” Once he zeroes in on a...

    Sonia LandryNovember 7, 2019
  • Record 157,288,000 Employed in July

    The number of people employed in the United States hit a record 157,288,000 in July, according to the employment report released...

    Sonia LandryAugust 2, 2019
  • Free Market Capitalism

    It’s working. Ending the long-running argument – but fear only the ignorant. Politicians often resort to name calling rather than educating people...

    Sonia LandryFebruary 14, 2019
  • Smart Capitalism for a Better World

    What happened to our economy? There is a growing gap from the middle class to the rich. The growing income inequality...

    Sonia LandryFebruary 11, 2019
  • Better Workers Through Conscious Capitalism

    Conscious capitalism is often seen as a differentiator that may help businesses stand out in a crowded marketplace. And there’s solid...

    Ron Davies - EditorJanuary 28, 2019

Crypto founder paid $4.6 million to have lunch with Warren Buffett

by Sonia Landry time to read: 1 min