Charles T. Munger was a businessman and investor who served as vice chairman of Berkshire Hathaway and business magnate Warren Buffett’s right hand.
- Died: November 28, 2023 (Who else died on November 28?)
- Details of death: Died in Santa Barbara, California, at the age of 99.
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Charles T. Munger’s legacy
When he was a teenager, Munger – better known as Charlie – worked at a grocery store owned by Warren Buffett’s grandfather. He and the Buffet family remained connected for the rest of his life. Munger studied math at the University of Michigan, but dropped out to serve in the U.S. Army Air Corp. With the help of the GI Bill, Munger attended Harvard Law School. He practiced real estate law until the 1960s, when he decided to switch his focus to investments.
Munger formed Wheeler, Munger, and Company, and ran his own investment partnership in the 1960s and ‘70s. His business interests became intertwined with Buffett’s when Berkshire Hathaway acquired Wesco Financial Corporation, where Munger was chairman. The pair partnered up in 1975, and by 1978 Munger was vice chairman of Berkshire Hathaway. Despite sharp differences in style and beliefs, Munger and Buffett’s partnership proved to be among the most successful in history. Both became multi-billionaires.
Munger was a frequent donor to the University of Michigan, along with other such institutions as Marlborough School in Los Angeles and Stanford University. He also donated over $250 million to the University of California, Santa Barbara. In addition to his financial support of higher education, he was well-known for his sense of humor, pithy one-liners, and cutting barbs.
Munger on learning:
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help – particularly when you have a long run ahead of you.” —from his 2007 USC Law School Commencement Address
Tributes to Charles T. Munger
Full obituary: The New York Times
