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Home / Business / Normally sedate charity lunch with Warren Buffett is turning into bizarre affair this year

Normally sedate charity lunch with Warren Buffett is turning into bizarre affair this year



Justin Sun Yuchen, founder of Tron and CEO of BitTorrent, speaks during the Ifeng Finance Summit at World Summit China Wing on November 4, 2015 in Beijing, China. (Photo by Jiang Xin / VCG via Getty Images)

Jiang Xin | VCG | Getty Images

Warren Buffett's charity lunch this year would involve engaging in kidney stones, laundering investigation and disputed money, and the winner apologizing for his "out-of-control, excessive self promotion?"

It all happened in the span of three days. Justin Sun, a Chinese cryptocurrency entrepreneur, paid a record $ 4.57 million in the 20th anniversary charity auction to the Oracle of Omaha. Pledging to change Buffett's hatred of bitcoin, Sun invited other cryptocurrency leaders to the three-hour lunch scheduled to take place in San Francisco Thursday and what counts on Twitter where he has 1

.4 million followers.

However, on Monday evening TRON announces the postponement due to a kidney stones illness.

Chinese news outlet Caixin reported on Tuesday in pornography and gambling.

TRON spokesman told CNBC Tuesday

Periscope Tuesday, showing San Francisco landmarks in the background to demonstrate he was not in China.

It's pretty comfortable in San Francisco, he said in the live video.

platform Weibo, claiming it was "completely untrue" and saying he will meet everyone once he recovers.

Asked about Sun's situation, China's Ministry of Foreign Affairs told CNBC: "It's not a diplomatic matter . "

" Excessive self promotion "

At 2:46 am Beijing time Thursday, Sun abruptly apologized on Weibo where he has about 1.2 million followers that he acted immature and felt deeply ashamed of his "excessive self-promotion" as well as his "penchant for hyping things up."

The excessive marketing He ignored his social responsibility, he said.

In a separate Weibo post Thursday, Sun denied the allegations of money laundering and illegal fundraising. Because the Tron Foundation complies with local laws and regulations in Singapore, its agreement is a "decentralized blockchain agreement" and there is no legal deposit and cryptocurrency withdrawal channel, he said.

The Chinese government has cracked down on the fledgling crypto industry since bitcoin became a household name two years ago. [BbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbNewYork'sSmith&WollenskysteakhouseBerkshireinvestmentmanagerTedWeschlerandGreenlightCapital'sDavidEinhornhavewoninthepreviousyears

Sun's bid is the highest on record for the charity's 20-year

TRON spokesman told CNBC the lunch will be rescheduled.

-CNBC's Kate Rooney, Maggie Fitzgerald and Eunice Yoon contributed reporting.


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