Charlie Munger, Warren Buffett’s Longtime Business Partner, Dies at 99 – News18

Charlie Munger, the longtime good friend and enterprise associate of famed US investor Warren Buffett, died on Tuesday at the age of 99, his employer has confirmed.

Berkshire Hathaway, the place Munger served for many years as vice chairman below Buffett, introduced it was “advised by members of Charlie Munger’s family that he peacefully died this morning at a California hospital.”

“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Warren Buffett mentioned in a press release.

Like Buffett, Munger was born and introduced up in Omaha, Nebraska. The two met as adults in 1959, and solid a friendship that lasted greater than 60 years.

Munger joined Buffett at Berkshire Hathaway as vice chairman in 1978, and helped remodel it from a small textile firm into a huge conglomerate, now valued at greater than $780 billion.

Unlike Buffett’s huge fortune, Charlie Munger’s wealth is estimated at a extra modest $2.6 billion, though he has donated most of his wealth to charity throughout his lifetime.

Munger by no means formally retired from his position at Berkshire Hathaway, and would have turned 100 on January 1, 2024.

In a 2017 interview, Buffett credited Munger with altering his views on funding for the higher.

“He refined them in a huge way, in terms of looking for the quality companies, and looking out for the ability to make an investment that will work out for five or 10 or 20 years, as opposed to something where there might be one more puff left in the cigar,” he mentioned.

“He’s strong minded, I’m strong minded. We’ve never had an argument in that whole time and we never will,” he continued.

“It’s been more fun doing it with Charlie,” he added.

(This story has not been edited by News18 employees and is printed from a syndicated information company feed – AFP)