Berkshire Hathaway vice chairman and billionaire philanthropist Charlie Munger died aged 99 on Tuesday in California.
“Berkshire Hathaway was advised by members of Charlie Munger’s family that he peacefully departed this morning at a California hospital,” the company said in a statement.
Warren Buffett, CEO of Berkshire Hathaway, mourned the passing of his longtime associate and close friend, acknowledging Munger’s immense impact on the company.
“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation,” Buffett said in a statement.
Munger was seen as Buffett’s trusted aide and right-hand man, instrumental in navigating the company through various challenges and successes.
Munger was known for his philanthropic endeavors and for imparting financial advice.
Born in Omaha on 1 January 1924, Munger served in the US Army during World War II after leaving the University of Michigan in 1943. He attended Harvard Law School after the war and subsequently moved to Southern California to practice real estate law.
Munger met Buffett at a dinner in 1959 at a dinner and the two became friends. “I’m not going to find another guy like this …. We just hit it off,” Buffett recalled in a 2021 interview with CNBC.
Although the two men started working together in the early 1960s, Munger officially joined Berkshire Hathaway as vice chairman in 1978.
Munger also served on the board of Costco Wholesale Corp. and for years as chairman of the Daily Journal Corp. His total worth is around $2.7 billion, according to Forbes.
As the news of Munger’s death became public, tributes poured in from colleagues, friends, and admirers worldwide.
“A titan of business and keen observer of the world around him, Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. He will be sorely missed. Rest in peace Charlie,” Apple CEO Tim Cook said in a post on X (formerly Twitter).
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