Unlocking Word Meanings
Read the following words/expressions found in today’s article.
- legendary / ˈlɛdʒ ənˌdɛr i / (adj.) – very famous or well-known
Legendary actors and actresses attended the event.
- devoted / dɪˈvoʊ tɪd / (adj.) – being extremely loving and loyal to something or someone
Patrick is devoted to his family.
- wrap up (something) / ræp ʌp / (phrasal v.) – to end or finish something
The two companies wrapped up the meeting by signing an agreement.
- recreational / ˌrɛk riˈeɪ ʃə nl / (adj.) – referring to activities done for enjoyment
Our community center offers various recreational activities, such as sports and board games.
- outperform / ˌaʊt pərˈfɔrm / (v.) – to do better than someone or something else
Brenda’s sales output outperformed Carl’s this month.
Read the text below.
Billionaire Warren Buffett auctioned off a high-tech signed portrait of himself to raise money for one of his favorite charities, and the bidding already topped $30,000 a few days before the end of the auction.
The portrait of Buffett created by Motiva Art features a grid of letters over the picture that light up to spell out several of the legendary investor’s famous quotes. The eBay auction of this artwork was not able to rival the $19 million someone paid earlier this year for a private lunch with Buffett, but it’s believed to have attracted big bidders among the Berkshire Hathaway CEO’s devoted followers.
The auction wrapped up on Buffett’s 92nd birthday on Aug. 30.
The proceeds from the art auction will go to Girls Inc. of Omaha, which provides educational, cultural and recreational programs for young women in Buffett’s hometown. The nonprofit has benefitted from a number of other things the investor has auctioned off over the years.
Buffett once sold off an old wallet of his that contained a stock tip, raising $210,000 for the organization. And in 2015, someone paid more than $122,000 for Buffett’s 2006 Cadillac with his signature on the dashboard.
The biggest Buffett payout for Girls Inc. came in 2018 when Buffett won a 10-year bet that an S&P 500 stock index fund would outperform a collection of hedge funds. That netted more than $2 million that Girls Inc. used to support a new residential program for young women leaving foster care.
The June lunch auction that raised $19 million for the California-based Glide Foundation that helps the homeless in San Francisco attracted such an astronomical winning bid because Buffett said this year’s auction would be the final one. Before the pandemic, he had auctioned off private lunches every year for 20 years and regularly raised millions for Glide.
This article was provided by The Associated Press.
Enjoy a discussion with your tutor.
- Do you think it’s important to support charities that promote educational, cultural, and recreational programs for young women? Why or why not? Discuss.
- Do you know of any organization in your country that does this? If not, how do you think charities/organizations can promote educational, cultural, and recreational programs for young women (ex. through a sports program, skills training)? Discuss.
- Warren Buffett often holds an auction to raise funds for his favorite charities. How else do you think famous people like him can use their influence positively? Discuss.
- Who is a famous person in your country that uses his/her influence positively? Discuss.