Warren Buffett
Dave Weaver  /  AP
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc., studies his hole cards intently at a charity event Thursday in Omaha, Neb.
updated 12/8/2006 2:25:28 PM ET 2006-12-08T19:25:28

It took less than 45 minutes for Warren Buffett, billionaire investor and avid bridge player, to go broke in a charity poker tournament.

“It’s different than bridge,” said Buffett, 76, the chairman and CEO of Berkshire Hathaway Inc. “I was confused. I thought the low score won.”

He was among 50 amateur, celebrity and professional players who competed in a Texas Hold’em poker tournament Thursday night.

The tournament celebrated a recent $5 million renovation of retailer Borsheims, which is owned by Berkshire Hathaway.

Donations from the event benefited the Nebraska Make-a-Wish program.

The field of players included Olympic swimmer Michael Phelps and professional poker players David Williams, Evelyn Ng and Michael Mizrachi. They competed for a $3,500 watch featured in the new James Bond movie, “Casino Royale.”

An amateur player from Omaha won the watch.

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