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Warren Buffett will meet with 13 young finalists in annual business idea contest

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OMAHA, Nebraska — Investor Warren Buffett will devote part of Monday to listening to 13 young entrepreneurs pitch their business ideas as part of a contest.

The finalists were picked out of more than 4,000 competitors and flown to Omaha to compete for $5,000 prizes. Five individuals and three teams will present at Monday's finals.

The winners will be chosen by a panel of business experts. The runners up will receive $500.

Buffett donates his time to the contest and to the "Secret Millionaire's Club" cartoon it is affiliated with to help teach kids financial principles. Buffett voices the animated version of himself that offers advice in the cartoon.

The contest is sponsored by the Fairholme Foundation.

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