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A $4.57 million meal with Warren Buffett was 'priceless,' crypto founder says

Inkstone logo Inkstone 8/2/2020
Warren Buffett wearing a suit and tie © Reuters/Rick Wilking

The man who spent $4.57 million to have a meal with Warren Buffett finally got to enjoy his sit-down with the legendary investor. 

Chinese cryptocurrency entrepreneur Justin Sun Yuchen had to postpone the lunch with the Berkshire Hathaway chairman last year because of a kidney stones issue.

When they finally met, it was for dinner. 

Sun's $4.57 million bid was enough to win the opportunity at a charity auction in June last year but postponed it, first citing health issues and then apologizing to the public for overhyping the plan to dine with one of the world’s richest people.

Sun thanked Buffett for his dinner, wisdom and vision. “$4.56 million for a $515.05 dinner was money well spent! The insights I received are priceless,” Sun said on Twitter on Thursday.

   

The 20th-anniversary charity lunch hosted by Warren Buffett was originally scheduled for July 25 last year. Sun earlier said on Twitter that he intended to invite blockchain industry leaders to join him and hope “this benefits everyone.”

Sun and four other cryptocurrency advocates finally met Buffett on January 23 at the Happy Hollow Club in Omaha, Nebraska. 

Sun brought Buffett several gifts, including a Bronze Horse, a traditional Chinese paper cutting of a mouse and a Galaxy Fold phone stored with one bitcoin.

Sun, founder of cryptocurrency platform Tron and chief executive of software company BitTorrent, is a controversial figure in China.

Shortly after he came under the spotlight because of the Buffett lunch, Chinese media Caixin reported that Sun was under investigation by local authorities and was not allowed to leave China, though Sun subsequently posted a video on his Twitter account, saying he was in San Francisco.

The entrepreneur was allegedly involved in illegal fundraising via the Tron project, which operated illegal gambling services accessible to Chinese residents, according to a report by The 21st Century Business Herald

The report also noted that Sun’s early start-up Peiwo, a social app that allows strangers to chat with each other, had been accused of being a vulgar and pornographic business.

Sun has denied the illegal fundraising and money laundering accusations, but admitted that some content on his social app Peiwo had “negative energy.”

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Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

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