Charlie Munger, Warren Buffett’s longtime sidekick at Berkshire Hathaway, dies at 99

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Charlie Munger, the longtime partner of Warren Buffett and a key figure in the success of Berkshire Hathaway as an investment powerhouse, has passed away at the age of 99. The news of his death was confirmed by Berkshire Hathaway, stating that Munger’s family informed the company of his passing just over a month before his 100th birthday.

Warren Buffett, in a statement, expressed his deep appreciation for Munger’s contributions, emphasizing that Berkshire Hathaway’s remarkable journey would not have been possible without Munger’s inspiration, wisdom, and active involvement. Buffett even dedicated a portion of his annual letter to Berkshire shareholders earlier this year to pay tribute to Munger.

Munger played a pivotal role as Buffett’s trusted advisor on investment strategies and business decisions, serving as the vice chairman of Berkshire Hathaway for over five decades. Despite using a wheelchair in recent years, Munger remained mentally sharp, evident in his extensive interactions during annual meetings, interviews, and podcasts.

Munger often preferred to stay in the background, allowing Buffett to be the public face of Berkshire Hathaway. However, his influence was undeniable, pushing Buffett beyond his early value investing approaches to acquire great businesses at favorable prices, such as See’s Candy.

Their partnership began in 1962 when they purchased Berkshire Hathaway shares at remarkably low prices, eventually reshaping the company into a conglomerate through strategic acquisitions like Geico insurance and BNSF railroad. Simultaneously, they maintained a high-profile stock portfolio with substantial investments in companies like Apple and Coca-Cola, resulting in significant wealth accumulation for long-term shareholders.

Munger, known for his wit and wisdom, gave insight into Berkshire’s success, emphasizing the importance of avoiding mistakes and their dedication to working well into their 90s. Despite living over 1,500 miles apart, Buffett regularly consulted Munger on major decisions, highlighting the depth of their partnership.

As Berkshire Hathaway faces the future without Munger, his absence will be deeply felt, as he was one of the few individuals willing to challenge Buffett’s viewpoints. Munger’s influence extended beyond investments, offering valuable life lessons on reputation and integrity.

A voracious reader and a student of human behavior, Munger applied a diverse range of models from various disciplines to evaluate investments. His journey from studying mathematics to earning a law degree and eventually focusing on investing led to a fortune exceeding $2 billion, much of which he generously donated to philanthropic causes and his eight children.

Charlie Munger’s legacy extends beyond the financial world, as his wisdom and contributions to both business and society leave an indelible mark. His passing marks the end of an era at Berkshire Hathaway, and he will be remembered for his profound impact on the world of finance and investing.

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More about Charlie Munger Legacy

• Charlie Munger, Berkshire Hathaway’s Vice Chairman, Dies at 99
• Warren Buffett’s Partner, Charlie Munger, Dies at Age 99
• Charlie Munger: A Man of Wisdom and Wit (Berkshire Hathaway’s 2022 Annual Letter)
• Charlie Munger’s Philanthropic Contributions
• Charlie Munger’s Investment Philosophy
• Remembering Charlie Munger: A Financial Legend