Justin Sun, the CEO of TRON and BitTorrent, canceled his planned lunch with super investor Warren Buffett due to sudden health complications, just three days before the men met in San Francisco.
Kidney stones throw a spanner in the works
Dovey Wan, founder of Primitive Ventures and expert on the Chinese cryptomarket, shared a screenshot on social media app Weibo. A translation of Sun’s message:
“Thanks to all friends from all walks of life for their concerns, I was in the hospital because of sudden kidney stones and have lunch with Mr. Buffett have to cancel. At the moment my physical condition is stable and I am recovering. “
The original message is longer but not relevant to the canceled lunch.
Not much later, the TRON Foundation confirmed that lunch is indeed being postponed.
TRON Foundation announces postponement of Warren Buffett lunch, press conferences after founder Justin Sun falls ill with kidney stones. Parties agreed to reschedule at a later date. @GLIDEsf @WarrenBuffett
– TRON Foundation (@Tronfoundation) July 22, 2019
Conservative piece of the pie
Justin Sun won a charity auction in June by making a bid of no less than $ 4.57 million. The jackpot? A lunch with Warren Buffett, one of the most successful investors of all time. Buffett is one of the old stamps and invests very conservatively. He has also spoken against bitcoin several times and has previously called cryptocurrency “rat poison” and a “delusion.”
After TRON launched the cancellation of the lunch via Twitter, the price of TRX fell almost nine percent. For the tweet one TRX was worth $ 0.02862, after the tweet the value fell directly to $ 0.02607. Wondering what Buffett thinks of this volatility.
Why does Buffett organize these lunches?
The billionaire donates the full income of the lunch to a charity. That income does always vary because the lunch option is auctioned. He has been doing this at least once a year for twenty years, Justin Sun’s bid broke the auction record, never before had someone paid $ 4.57 million to have lunch with Buffett.
Pete Budlong, a San Francisco entrepreneur, was the first to ever win an auction to dine with Buffett in 2000. At that time, he “only” paid $ 25,000.
The proceeds from the auction will go to Glide, a poverty alleviation organization in San Francisco where Buffett became involved through his late wife Susie.
Not everyone keen on lunch with Sun.
Incidentally, it is not a one-to-one lunch. Justin Sun can fill seven seats. In an interview with CNBC, Sun said he wants to invite some of the most famous names in crypto, think of Ethereum founder Vitalik Buterin, Litecoin founder Charlie Lee and Binance CEO Changpeng Zhao. Of those three, only Charlie Lee has agreed to come along.
Earlier this week, Jeremy Allaire, CEO of Circle, confirmed that he would be attending lunch. The founder of eToro, Yoni Assia, has also promised.
Sun and Buffett have not yet set a new date.
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