How much is your time worth? : Power lunch with Warren Buffett

According to Bloomberg, Warren Buffett of Berkshire Hathaway Inc. is auctioning a lunch with himself, the winner and seven guests. Last year’s winner paid $650,100. This year all proceeds are going to charity (not named in the article). The winner will have full access to Mr. Buffett and can ask any questions except what he plans to buy or sell.

When I read this article, I must say, I was completely floored. The immediate comparison of how much a similar amount of my time is worth screams from the page. Some people might be filled with jealousy, envy, or even disgust at the thought that a person would give the equivalent of over 17 years wages for a middle class earner in exchange for a lunch. Those people would be short-sighted. The big picture here says, “What is your time worth?” I can’t say I have known anyone who demands such a cost for their time; and it is no surprise why. What did Mr. Buffett do, that my circle of influence and acquaintances has not done? Mr. Buffett took a failing business and made in worth over $72 Billion in assets and holdings (Bloomberg).

Many people are talking about “win-fall” taxes for record profits. Many people want to see “big business” as the evil doer and general destructive force in the world. Many people would never, ever take a chance with their own wealth to better themselves or change their own financial situation. Many people are not named Warren Buffett.

According to 233,000 people are employed by Berkshire Hathaway. If we allow our representatives in D.C. to see big business as evil, and tax those who produce the most for our and the world’s economy, we need to be prepared to tell the 233,000 people employed by Warren Buffett and the countless others like them that they are no longer employed because “we said so”. Also, we need to be prepared to tell the recipients of the charity monies that will no longer be available that they must go elsewhere for help; but not to the government since it will be broke from a lack of tax revenue after the evil big businesses are gone.

Maybe, we as a people should be more excited about hearing of other’s success. Maybe, we as a people need to be more informed producers, who see opportunities not yet taken. Maybe, we as a people need to get to the place where we say “gee, how can I do better today.” Maybe, we as a people need to do all of the above without blaming others for our lack of accomplishment. Maybe, we as a people can do more ourselves and expect less from the government. Then someday maybe more of us can have our time valued more.

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