A man has agreed to shell out over $4.5 million for lunch with Warren Buffett, breaking the previous record for a "power lunch" with the Berkshire Hathaway founder, the media reported.

This is the 20th year that Buffett, famous for making it to age 88 on a diet of Coca Cola, Utz potato sticks, Dairy Queen Sundaes, and fast food from McDonald's, has auctioned off such a "power lunch", Quartz reported on Monday.

The winner committed $4,567,888 when the bidding closed on eBay on May 31.

In 2001, a meal with Buffett cost a commoner just $20,000. But the price jumped once online auction started on eBay.

In 2008, it reached over $2 million and later touched a record of $3.45 million in 2014 and 2016.

The lunch will benefit the Glide Foundation in San Francisco, according to a report in the San Francisco Chronicle.

Since bidding shifted to eBay 17 years ago, no lunch with Buffett has cost less than $1 million, Debbie Mesloh, Glide's spokeswoman for this year's event was quoted as saying.

Every year, Buffett holds the lunch at Smith & Wollensky in New York. The winning bidder is allowed to bring up to eight guests for the power lunch.

The restaurant charges nothing and donates $10,000 to Glide, San Francisco Chronicle reported.

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