Who Was Charlie Munger? Warren Buffet Right Hand Man Who Died At 99
New York: The right-hand man of Warren Buffet, Charlie Munger, is no more. The outspoken business partner and Berkshire Hathaway's board member for over 50 years, died at age 99 in Los Angeles. Munger passed away about a month before he would have turned 100 on January 1, 2024.
Munger worked as the vice chairman of Berkshire for decades. He also served as Buffett's sounding board on investments and advised the investor on crucial business decisions. Buffet confirmed this at a famous 2008 public event.
"Charlie has taught me a lot about valuing businesses and about human nature," Buffett said in 2008.
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.
"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.
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.
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.
Munger spent most of his childhood and grew up in Omaha, Nebraska. He lived about five blocks away from Buffett's current home. But both never met due to age difference between them.