Condolences and tributes flooding for legendary investor Charlie Munger and Warren Buffet’s most trusted advisor/friend, Charlie Munger, who died at the age of 99.
Mr. Warren Buffett quoted, “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation,” said Mr. Buffett.
Munger was just shy of making a century in living, serving as vice chairman at Berkshire since 1978, as quoted by a company official. Munger died a peaceful death in California’s Private Hospital.
Mr. Buffett helped restructure Berkshire Hathaway from a falling textile manufacturer into a giant investment company currently valued at $785 billion.
Munger was a very close and trusted friend/advisor to Mr. Buffett who wasn’t afraid to speak his heart out, giving advice to Mr. Buffett whenever his partner was making a mistake.
Tim Cook, Apple’s Boss, in his Twitter account, mentioned Mr. Munger as “a titan of business and a keen observer of the world around him.”
Berkshire owns billions of dollars worth of shares in multiple companies, including shares in Apple Corporation.
In 2023, Munger’s fortune was estimated at a net worth of $2.3 billion, way less than his confidant Mr. Buffett, who is estimated to have a net worth of more than $100 billion.
One week before Munger’s passing, Mr. Buffett, knowing his old age, played a safe move by timely donating $866 million worth of stocks to successors named Greg Abel, Ajit Jain, and two other chairmen at Berkshire to run the company and daily operations.
Munger was well-known for his famous blunt advice and straightforward talking advice, which his shareholders often enjoyed and understood in a positive manner. He will definitely be missed in upcoming meetings.
RIP Charlie Munger. Thank you for your highly-needed wisdom. You will be highly missed in the corporate world.”