Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. He was 99 years old.
Charles Thomas Munger, affectionately known as “Charlie,” passed away peacefully on Tuesday morning in a California hospital, as announced by Berkshire Hathaway, the investment firm where he served as vice chairman. Born on January 1, 1924, in Omaha, Nebraska, Munger joined the US Army during World War II after leaving the University of Michigan at the age of 19 in 1943. Following the war, he pursued studies at Harvard Law School, graduating with honors in 1948, before establishing himself in Southern California, where he practiced real estate law.
The investment community on Wall Street expressed sorrow at Munger’s demise and reflected on his remarkable tenure at Berkshire Hathaway. Warren Buffett, the CEO of Berkshire Hathaway, credited Munger’s inspiration, wisdom, and active involvement in building the firm to its current stature. Buffett remarked, “For so many decades, the two of them led an investment powerhouse that significantly improved so many people’s lives… and, in the process, they repeatedly showcased the prowess of collaboration, synergies, and common sense. May you RIP, Charlie.” Billionaire investor Charlie
Mohamed El-Erian, Allianz chief economic adviser, paid tribute to Munger’s impact beyond the financial realm, stating, “His impact went far beyond the investing world. People discovered him, thinking that they would learn about ways to make money, but they got so much more.” Whitney Tilson, an investor and expert on both Buffett and Munger, shared Munger’s insightful perspective, quoting, “He said if all you have is a hammer, the world looks like a nail.”
Despite his net worth of $2.7 billion, according to Forbes, Munger remained actively engaged in commenting on global markets until recently. In a podcast interview a few weeks ago, he discussed Warren Buffett’s decision to invest billions of dollars in Japan, describing it as “a no-brainer” and likening it to “having God just opening a chest and pouring money into it.” Munger’s characteristic pithiness continued to resonate in his observations on financial matters.