America lost a great businessman, investor, and philanthropist on November 28, 2023, Charles Thomas Munger. He was born January 1, 1924. Warren Buffett called Munger his “closest partner and right-hand man” while he was vice chairman of Berkshire Hathaway, the conglomerate Buffett oversaw.
From 1984 until 2011, Munger was the chairman of Wesco Financial Corporation. He also served as a director of Costco Wholesale Corporation and chairman of the Los Angeles, California-based Daily Journal Corporation.
Charlie Munger Net Worth
The late Charlie Munger was a multi-talented American entrepreneur, lawyer, investor, and philanthropist who amassed a fortune of $2.7 billion. As Warren Buffett’s trusted assistant, Charlie Munger gained widespread fame. At Buffett’s broad investment firm Berkshire Hathaway, Munger served as vice chairman.
They oversaw Berkshire Hathaway from 1965 to 2021, during which time the company’s return averaged 20% per year. Munger was a major stakeholder at Berkshire Hathaway. Approximately 3.4% of Berkshire’s total outstanding equity was in his possession when he passed away. About $2.7 billion of his riches came from those shares. At the age of 99, Charlie Munger passed away on November 28, 2023.
Charlie Munger Early Life
Charles Thomas Munger came into this world in Omaha, Nebraska, on January 1, 1924. In 1948, he received a Juris Doctor magna cum laud degree from Harvard Law School. Munger went to work for the legal company Wright & Garrett (now known as Musick, Peeler & Garrett) in California in the late 1950s, after relocating his family there.
In due time, he also established Munger, Tolles & Olson LLP, his own law practice. In the end, he decided to focus on investment management instead of law. In the beginning, he worked in real estate development with Otis Booth. The investing business Wheeler, Munger, and Company was later formed by him and Jack Wheeler as partners.
Charlie Munger Sea Meadow
Charlie built Sea Meadow, a gated community on Montecito’s oceanfront, in the late 19th and early 20th centuries. Sea Meadow is a gated neighborhood spanning 22 acres. The HOA fee is $2,700 per month, and properties in Sea Meadow typically sell for $10–$20 million or even more. A house in the community Charlie built cost him $11 million in December 2021.
Charlie Munger Berkshire Hathaway
As children, Charlie and Warren Buffett were best buddies in Omaha. Even as teenagers, they helped out in the grocery store owned by Warren’s grandfather. After a long separation, Charlie and Warren reconnected during a 1959 Omaha dinner. Charlie had already relocated his family from California to Omaha in order to assume the legal profession of his late father.
He started investing in the stock market like Warren and quickly realized he had a talent for it. Over the course of ten years, Charlie managed his own financial portfolio. With returns of around 19% each year, his fund was doing very well. Charlie has been with Berkshire Hathaway since 1978, when Warren recruited him to be the company’s Vice Chairman.
In addition to his roles as director of Costco Wholesale Corporation and chairman of the Daily Journal Corporation, Charlie Munger was chairman of Wesco Financial Corporation from 1984 to 2011.
Newswatchlist.com has articles similar to this one as well as biographies of your favorite actors.
More of our most current work can be found in these articles: