Posted on 11/28/2023 1:59:19 PM PST by SeekAndFind
Legendary investor and polymath Charlie Munger, Berkshire Hathaway's vice chairman and Warren Buffett's right-hand man and friend of nearly six decades, died on Tuesday in California, the company announced. He was 99.
Together, Buffett and Munger built Berkshire Hathaway (BRK-A, BRK-B) into one of the most successful and long-lasting business partnerships that enthralled millions worldwide.
In a statement on Tuesday, Buffett said, "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation."
Berkshire, originally a textile manufacturer, has grown into a multinational conglomerate that wholly owns popular brands like Dairy Queen and Fruit of the Loom and has stakes in Apple (AAPL), Coca-Cola (KO), and other large public companies.
Every year, thousands of Berkshire shareholders make the pilgrimage to Omaha, Neb., to listen to Buffett and Munger answer their questions for hours. Munger, known for his maxims about business, investing, and life, would sip Coca-Colas and nibble See's Candies peanut brittle alongside his partner.
Famously, he would often say, after Buffett finished speaking, "I have nothing further to add."
Charles Thomas Munger was born on Jan. 1, 1924, in Omaha, Neb. He grew up in the Dundee neighborhood, a half a block from Buffett’s house, and attended the same high school as the investing legend. He even worked at Buffett’s grandfather’s grocery store as a teenager, though the pair wouldn’t meet until later at the ages of 35 and 29, respectively. When they did finally meet, they became instant friends and partners.
At the age of 17, Munger enrolled in the University of Michigan to study mathematics only to drop out at the age of 19 during World War II to serve in the US Army Air Corps. While in the Army, he studied meteorology
(Excerpt) Read more at finance.yahoo.com ...
If you have nothing good to say….
Warren Buffet is worth about $120 billion, while Charlie Munger is worth a “mere “ $2.5 Billion.
While both Munger and Buffett are value investors, they have different approaches to investing. Buffett is known for his willingness to hold onto investments for the long term, even through periods of volatility. Munger, on the other hand, is more willing to sell investments if he believes they are no longer undervalued. This difference in approach has led to Buffett accumulating a larger fortune over time.
Both Munger and Buffett are known for their philanthropy. However, Munger has already given away a larger percentage of his wealth than Buffett. As of 2023, Munger has donated over 99% of his wealth to charity, while Buffett has pledged to donate over 99% of his Berkshire Hathaway stock to the Bill & Melinda Gates Foundation. This difference in charitable giving has reduced Munger’s net worth compared to Buffett’s.
Bill and Melinda Gates…is that still a ‘thing’?
The guy was old enough that he shouldn’t be buying green bananas. :-P
**However, Munger has already given away a larger percentage of his wealth than Buffett.**
He doesn’t have any of it now.
RIP, Mr. Munger.
A LIFE WELL LIVED......
RIP CHARLIE....
He had donated 140 million to be allowed to help design a huge dorm at ucsb. It has many detractors. Moniker is “Dormzilla”. Looks like a modern prison. Seems like a potential death trap to me. Supposed to house about 4,000 students. RIP anyway.
Lifetime friends are tough to lose.
They aren’t making old friends anymore.
I thought these guys all drank the George Soros/Klaus Schwab live forever potion.
I hope he spent some time contemplating eternity instead of the next hot investment. It’s all worthless now.
A LIFE WELL LIVED......
RIP CHARLIE....
You thought wrong. Even globalists like those two aren’t forever.
His heir to his accountant: “How much did he leave behind?”
His accountant: “All of it.”
Enjoyed the read. What wonderful qualities to live by.
bttt
Good riddance to a commie-sniffing oligarch. Disgusting man.
Can you share with us what Munger did in his life to merit your contempt?
How much did he take with him?
Will he meet aborted babies or never even get to?
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