That was the final bid at 7:30 a.m. in an auction to benefit San Francisco's Glide Foundation.
The bids started at $25,000 last Monday on eBay.
The winner wishes to remain anonymous.
Glide serves more than a million meals a year and helps the needy to find housing and jobs.
It is the 11th year Mr. Buffett has offered a power lunch to benefit the foundation.