Jack Staub, a California engineer and business owner, placed the winning $156,000 bid on a charity auction to attend an all-you-can eat tour of Berkshire Hathaway's (NYSE:BRK-B) (NYSE:BRK-A) See's Candy factory that includes meeting Warren Buffett.
Staub's bid clocked in at more than double the auction's estimated $75,000 value, but the Californian is happy to be donating to Communities in Schools -- Los Angeles, a nonprofit organization focused on providing students with the support they need to complete their studies and succeed in life. He was quoted in the press release on the auction as saying that:
Jade [Staub's wife] and I were very impressed with Communities In Schools of Los Angeles and their focus on underserved kids. Last year we lost a dear friend, Kathy Godshalk, to cancer. Kathy taught math at Cypress College (a community college serving the LA-OC area) and proved supporting our future generations through education, caring, and guidance makes an enormous difference. We would like to keep the cycle going through this worthy cause.
Staub will attend the tour with his wife and two children, where Buffett will "demonstrate the only acceptable way to eat a bonbon," according to auctioneer CharityBuzz.com.
According to the "fine print" section of the Charitybuzz posting, Buffett will not be guiding the tour and "The winner may take a photo. The winner can take something small to be signed. Cannot be resold or re-auctioned. Cannot be transferred."