On November 28th local time, Berkshire Hathaway announced that Charlie Munger's family had informed the company that he had passed away in a hospital in California this morning. Warren Buffett mourned, "Without Charlie Munger's inspiration, wisdom, and involvement, Berkshire Hathaway could not have established his current position."
It is understood that Munger was born on January 1, 1924, just over a month before his 100th birthday. In addition to working at Berkshire, Charlie Munger has worked as a real estate lawyer, Chairman and publisher of The Daily Mail, and a member of Costco's board of directors.
Munger is also a philanthropist who supports various social welfare projects through Berkshire's charitable foundation, covering multiple fields such as education and healthcare. According to a document submitted to the US Securities and Exchange Commission (SEC) in October this year, Munger donated 77 shares of Berkshire Hathaway Class A stock to the Henry Huntington Library and Art Museum in San Marino, California.
Munger served as the Chairman and CEO of Wesco Financial Company from 1984 to 2011. In 2011, Buffett's Berkshire acquired the remaining shares of this insurance and investment company headquartered in Pasadena, California.
Buffett and Munger worked perfectly together for a long time, both as colleagues and as friends. Buffett praised Munger for broadening his investment strategy, shifting his focus from favoring low priced companies in distress, hoping to profit from them, to companies with higher quality but lower prices. And Munger often candidly responds to Buffett's comments. At the Berkshire annual meeting, Buffett usually talks endlessly when answering questions, while Munger would say, "I don't have anything to add." Buffett once said in an interview, "Throughout the entire time we've known each other, we've never argued, and it's been almost 60 years now. Charlie gave me the best gift someone can give. He made me a better person."
In a 2019 interview, Munger was asked about the secret to happiness and longevity, and he said the answer was "very simple, because it's too simple." "You don't have too much jealousy, you don't have too much resentment, you don't exceed your income, you stay happy in difficulties. You interact with reliable people, do what you need to do. All these simple rules can make your life better. They are too clich é d," he said.
According to Forbes data, as of November 28, 2023, Munger's net worth was $2.6 billion.