Billionaire investor Charlie Munger, a longtime business partner of Warren Buffett, has died at the age of 99 in a California hospital, according to information provided to CNN.
Munger, also known for his role as vice chairman of Berkshire Hathaway, died “peacefully,” the investment firm said in a press release. The exact cause of death has not been specified.
Charles Thomas "Charlie" Munger was born on January 1, 1924 in Omaha, Nebraska. He went from serving in the Army during World War II to graduating from Harvard Law School in 1948. He later moved to Southern California where he practiced. real estate law.
Following his loss, the Wall Street community mourned the passing of Munger and his outstanding contributions to Berkshire Hathaway. Warren Buffett, the company's CEO, noted:
"Berkshire Hathaway would not have reached its current status without Charlie's inspiration, wisdom and involvement." Mohamed El-Erian, chief economic adviser at Allianz, added: “His impact was much broader than the scale of investment. People discovered it to learn how to make money, but they made so much more."
What was Munger's condition?
According to Forbes, Munger is worth an estimated $2.7 billion, and he continued to comment on global markets even in the weeks before his death.
On the Acquired podcast, he praised Buffett's decision to invest in Japan, calling it "an opportunity you can't refuse."
Munger and Buffett first met in 1959, forming a quick and lasting connection. Buffett called their first meeting a revelation, saying he immediately knew he "wouldn't find anyone like him... We just hit it off."
In 1978, Munger officially joined the Berkshire Hathaway team as vice chairman, becoming best known as Buffett's strategic partner, providing direct advice on the stock market and the economy. His direct and blunt words made him popular among Berkshire fans.
Controversial end of life
But towards the end of his life, Munger often found himself in the spotlight for controversial statements. Admiring China's communist government despite Western criticism of human rights, Munger supported the country even in the face of China's crackdown on tech giant Alibaba. This is a significant investment by Munger in the Daily Journal, the media and investment company he led for nearly 45 years. until 2022.