Buffett charity auction crosses $1M mark in less than a day

Warren Buffett held on to his stake in post-IPO Verisk, which has earned a hefty 207 percent return since October 2009, as of the close of business Sept. 30.
Adam Jeffery | CNBC

A meal with Warren Buffett still sells like hotcakes.

The charity auction for a meal with the legendary investor already passed the $1 million mark, hitting $1,000,100 in less than 24 hours. All proceeds will be donated to Glide, a San Francisco charity that provides health care, food, and other services for the city's poor and homeless.

"We're very happy, very happy," the Rev. Cecil Williams, the co-founder of Glide, told Reuters in a phone interview. "We expect the bidding to take off, but $1 million coming this early is somewhat surprising."

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Buffett described the charity on the auction page as "maybe the most effective organization I've seen for people down on their luck. It takes people who have hit bottom and brings them back. I've seen it with my own eyes," he wrote.

Buffett first started auctioning off meals to raise money for Glide 15 years ago after he was introduced to the charity by his first wife, Susan, who died in 2004.

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Heading into its 16th year, the lunch auction has raised over $17 million for Glide, with the most expensive meal coming in at just shy of $3.5 million in 2012. This year's winner can bring up to seven friends to dine with the "Oracle of Omaha" for a meal at Manhattan steakhouse Smith & Wollensky. Winners in past years supped with Buffett in Omaha at a local steakhouse.

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Last year's winner, Andy Chua of Singapore, paid $2,166,766 for his chance to dine with Buffett in New York. Bidding for this year's meal will close on Friday at 10:30 p.m., EST.

—Reuters contributed to this report.