The winning bidder for a private lunch with billionaire Warren Buffett has set a new record for the cost of dining with the investor, after pledging $2,626,411 for the meal.

The winning bid at the annual charity auction broke the record set last year by a little more than $100.

The opening bid started at $25,000. When the charity lunch began in 2000, this was the price of the winning bid!

According to Reuters, there were nine different bidders in 2010 that battled for the highest position to have lunch with the Buffett.

However this year only two different parties qualified for the bidding war with eight bids between them.

The proceeds go to the Glide Foundation, which provides social services to the poor and homeless in San Francisco.

The winning bidder has the option to bring up to seven guests to the upmarket Smith & Wollensky steak house in New York City and dine with Buffett

Winners of the lunches are allowed to ask Mr. Buffett anything except for questions on future investments.

Warren Buffet is considered to be the third wealthiest person in the world, and is the chief investment officer, founder, and CEO of Berkshire Hathaway Inc.