Three Chinese bidders of the Buffett lunch

Rhea Liu

Among the nine publicly declared bidders who have bid on Warren Buffett’s yearly charitable lunch auction – a 15-year-old publicity stunt with proceeds donated to the Glide Foundation – three have been Chinese businessmen. AllChinaTech reveals who these Chinese bidders are and what businesses they run:

2006 Duan Yongping USD 620K

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Photo from Sina

Duan Yongping is the founder of BBK Electronics and OPPO Electronics. BBK’s Vivo mobile phones account for 10% of the Chinese mobile phone market, right behind Xiaomi, Huawei and Apple, as reported. OPPO stands out in the Southeast Asian market where it has over 10% market share in Vietnam, Malaysia and Indonesia the company claims.

Duan himself is also known for investing in technology companies. In 2001, he invested in NetEase when its stock price was only eighty US cents. Two years later, NetEase’s stock price soared to USD 100. Duan also holds a large amount of Yahoo stock. Duan is considered the “Buffett of China” among investors.

In 2006, Duan bid for the chance to have lunch with Warren Buffett with USD 620,100.

2008 Zhao Danyang USD 2.11M

zhao
Photo from Liaoning Daily

Zhao Danyang is one of the most experienced private equity managers in China, also known as the Godfather of Chinese private equity among the public. He has been working at Guotai Junan International since 2002. Zhao is now running Pureheart Capital, a China focused “Value” fund manager.

In 2008, Zhao successfully bid and lunched with Warren Buffett with USD 2.11 million, almost twice the amount he pledged the year before. Zhao’s mention of a stock to Buffett during their lunch caused the stock to appreciate by 24% the following week. It’s reported Zhao earned about HKD 130 million (USD 16.8 million) as a result. Because of this incident, Buffett no longer discusses individual stocks with his lunch attendees.

2015 Zhu Ye USD 2.3M

Zhu Ye successfully bid to have lunch with Buffet this year with his pledge of USD 2.3 million.

Zhu is the CEO of Zeus Interactive, an entertainment company focused on mobile games. Zeus Interactive was founded by Zhu in 2010. Its online video game ‘Ao Jian’ or ‘Sword’ was once ranked first in the Vietnamese game market earning Zeus RMB 5 million in its first month the company noted. Zeus Interactive is the primary stock holder of Zeus Entertainment, an A-share listed company.

In 2015, Zeus Entertainment made a income of RMB 319 million for the first two quarters, according to its half year financial report. In April, Zhu sold 965,500 shares of Zeus Entertainment at RMB 90 per share, raising RMB 87 million cash in return.

There’s an interesting detail shared by Shang Hua, Zhu’s wife who said that Buffett asked about the financial report of Zeus Entertainment.

(Feature photo by Sina)

AllTechAsia Staff

AllTechAsia is a startup media platform dedicated to providing the hottest news, data service and analysis on the tech and startup scene of Asian markets in English.

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