TRON founder and BitTorrent CEO Sun wins the 20th annual eBay Power Lunch
SAN FRANCISCO, June 3, 2019 /PRNewswire/ -- Justin Sun, founder of blockchain platform TRON and CEO of peer-to-peer streaming leader BitTorrent, is this year's winner of the annual eBay charity auction to have lunch with Warren Buffett.
Sun bid a record-setting $4,567,888 to win the auction, which benefits the San Francisco-based non-profit GLIDE Foundation. Buffett, the billionaire investor and CEO of Berkshire Hathaway, has held the auction for 20 years to support the foundation's efforts to help the homeless and poor in the Bay Area.
"I'm looking forward to meeting a true pioneer in investing," Sun said. "I'm excited to talk to Warren Buffett about the promise of blockchain and to get valuable tips and insights from him about entrepreneurship and making bold bets on the future."
Sun and up to seven invited guests get to attend a private lunch with Buffett. It has previously been at the Smith & Wollensky Steakhouse in New York City.
The eBay Power Lunch with Warren Buffett Auction is now in its 20th year and opened with a $25,000 bid on Sunday, May 26, 2019. Momentum grew quickly over the week, exceeding the record high bid of $3,456,789. The auction, which was hosted on eBay, closed on Friday, May 31.
GLIDE was introduced to Buffett by his first wife, Susie, who had volunteered with the foundation. Susie passed away in 2004, however Buffett has remained committed to the charity over the years and has raised around $30 million to date.
"BitTorrent and TRON's US headquarters are in San Francisco, and bidding on this charity auction was a key priority for our team,'' Sun said. "I'm proud to have my bid donated to GLIDE, a foundation that provides critical support for our local homeless community."
Added Karen Hanrahan, CEO and president of GLIDE: "With the generosity of the winning bidder and Warren Buffett, we are building on GLIDE's long-standing legacy and service to this city to not only get people off the streets, but to help them stay off the streets."
"All of the proceeds of this record-breaking winning bid will be used to help people overcome barriers such as homelessness, addiction, hunger and social isolation and reach their full potential," Hanrahan said.
Founded in September 2017 by Justin Sun, TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON and its subsidiary BitTorrent give users direct access to applications, content, and media by combining best-in-class blockchain approaches with innovations in peer-to-peer sharing and other technologies.
Building on the 50-year legacy of Co-Founders Rev. Cecil Williams and Janice Mirikitani, GLIDE challenges inequities and stands with the poor, people of color, LGBTQ persons, and others facing oppression, isolation and stigma, while offering a holistic, integrated model of programs and services to address the complex needs of the community. Today, under the leadership of President and CEO Karen Hanrahan, GLIDE continues to deepen its impact and extend its reach to thousands of people in need. Through comprehensive services, fearless advocacy and spiritual connection, GLIDE remains a powerful beacon of hope for a healthier, more just and inclusive city.
For more information, visit GLIDE.org.
About eBay for Charity
eBay for Charity enables members of the eBay community to connect with and support their favorite charities when they buy or sell in the U.S. and abroad. Sellers can donate up to 100 percent of the proceeds to a charity of their choice, while buyers can add a donation to their purchase during checkout. To date, nearly $912 million dollars has been raised for charity by the eBay community, and the program is on-track to raise $1 billion by 2020. Visit eBay's For Sellers, For Nonprofits and My Causes pages to learn more about how you can work with eBay to support a good cause.