In early June, power diners were digging into their wallets to do lunch with Warren Buffett, the third-wealthiest person in the world in 2011, according to Forbes. The philanthropist does lunch every year for Glide, a San Francisco Bay Area social services group. Last year, one donor paid a whopping $2.63 million for the meal, setting a record and a pretty big goal for 2012.
The billionaire investor bought a passel of papers in mid-May and stood up for the community publications, saying: “In towns and cities where there is a strong sense of community, there is no more important institution than the local paper.”
In April, at the Omaha Press Club Show, Warren Buffett sang “I’m Only a Paperboy” and dressed the part. Using his childhood experience as a paperboy in the 1940s, Buffett lobbed tightly folded newspapers into the assembled audience.
In 2010, investor Warren Buffett is presented the Medal of Freedom by President Obama. The president proposed the Buffett Rule, named, of course, for Buffett, which says the rich should pay at least 30% of their income in taxes. Buffett has said that he pays a lower percentage in income taxes than his secretary.