Charlie Munger Net Worth: A Look At His Properties, Investments
kIn news that spread like shock waves for the investment world, Billionaire Charlie Munger, a long-time friend of Warren Buffet died at age 99. Munger, Vice Chairman of Berkshire Hathaway died at a California hospital on Tuesday at age 99, confirmed the company.
The outspoken business leader left behind a massive $ 2.6 billion wealth after his demise. According to Forbes, he had an estimated net worth of around $2.6 billion.
Reportedly, despite taking crucial decisions in Berkshire, Munger preferred to stay away from the spotlight. He had a humble beginning and often downplayed his achievements at the company. A quality that was well-admired even by his critics.
Meanwhile, Buffen and Munger together grew the company Berkshire Hathaway over the past five decades. The market capitalisation of the company stood at a whopping $784.94 billion. Notably, Berkshire is the 9th highest valued public company across the globe, at the moment.
"If you don't learn to constantly revise your earlier conclusions, and get better ones...you're like a one-legged man in an ass-kicking contest," Munger once famously said to inspire the younger generation.
Munger owned 4,003 approximately at the time of his death. If the ace investor would not have given away a major chunk of his shares in 1996, he would have been worth almost $10.3 billion now. He was known for philanthropic work.
A Bloomberg report suggested that before the coronavirus pandemic shook the world, billionaire investor Charles Munger made a well-timed bet on suburban apartments in California.
Munger, who was also once a real-estate lawyer, formed an investment company Wheeler, Munger, and Company, with his then partner in business Jack Wheeler. A company he closed after facing subsequent losses in 1976.
Based on the learnings from his professor, Ben Graham, who worked at Columbia University, Munger bought stocks in companies that were selling cheaply for less than their assets were worth. He later sold those shares when the market price soared.
According to Forbes, the billionaire's net worth steadily grew in the last nine years. Munger had a $ 1.1 billion net worth in 2014, which kept on growing and saw very few roadblocks.