Charlie Munger (1924-2023) was an American businessman, investor, and philanthropist. He was the vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett described Munger as his closest partner and right-hand man. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He was also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
Early Life
Munger was born in Omaha, Nebraska. As a teenager, he worked at Buffett & Son, a grocery store owned by Warren Buffett’s grandfather, Ernest P. Buffett. His father, Alfred Case Munger, was a lawyer. His grandfather was Thomas Charles Munger, a U.S. district court judge and state representative.
Education
Munger enrolled in the University of Michigan, where he studied mathematics. During his time in college, he joined the fraternity Sigma Phi Society. In early 1943, a few days after his 19th birthday, he dropped out of college to serve in the U.S. Army Air Corps, where he became a second lieutenant. After receiving a high score on the Army General Classification Test, he was ordered to study meteorology at Caltech in Pasadena, California, the town he was to make his home. Through the GI Bill Munger took a number of advanced courses through several universities. When he applied to his father’s alma mater, Harvard Law School, the dean of admissions rejected him because Munger had not completed an undergraduate degree. However, the dean relented after a call from Roscoe Pound, the former dean of Harvard Law and a Munger family friend. Munger excelled in law school, graduating magna cum laude with a J.D. in 1948. At Harvard, he was a member of the Harvard Legal Aid Bureau.
Age
Charlie Munger was born on January 1, 1924, and died on November 28, 2023, at the age of 99.
Career
Munger was known for leading investments at Berkshire Hathaway with Warren Buffett. He was the vice chairman of Berkshire Hathaway and served as chairman of Wesco Financial Corporation from 1984 through 2011. He was also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
Awards
Munger was awarded the Lifetime Achievement Award from the Graham and Dodd Award of Excellence Committee at the Financial Analysts Federation in 1997. In 2009, he was awarded the Outstanding Director Award from the Financial Times.
Relationship Status
Munger was married twice. His first marriage to Nancy Jean Huggins ended in divorce in 1953. He married Nancy Barry Borthwick in 1956, and she passed away in 2010. Munger had seven children.
Cars
There is no information available on Charlie Munger’s cars.
Houses
Charlie Munger owned a 4,657-square-foot home in the gated Sea Meadow community in Montecito, California, which he purchased for $11 million. He also owned an estate in Pasadena and a relatively modest home in the Hancock Park neighborhood of Los Angeles.
Net Worth
Charlie Munger’s net worth was estimated at $2.5 billion.
FAQs on Charlie Munger.
What was Charlie Munger's investment philosophy?
Charlie Munger’s investment philosophy was based on the principles of value investing, which he learned from his mentor, Benjamin Graham. Munger believed in investing in companies with strong fundamentals, a competitive advantage, and a long-term outlook. He also believed in the importance of diversification and avoiding overconfidence.
What was Charlie Munger's relationship with Warren Buffett?
Charlie Munger was Warren Buffett’s closest partner and right-hand man. Munger was the vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. The two men met in 1959 and became close friends and business partners.
What was Charlie Munger's role at Berkshire Hathaway?
Charlie Munger was the vice chairman of Berkshire Hathaway and was responsible for leading investments with Warren Buffett. He was also chairman of Wesco Financial Corporation from 1984 through 2011. He was also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
What philanthropic work did Charlie Munger do?
Charlie Munger was a philanthropist and donated millions of dollars to various causes throughout his life. He was a major donor to the University.
What was Charlie Munger’s involvement in philanthropy?
Charlie Munger was a philanthropist and donated millions of dollars to various causes throughout his life. He was a major donor to the University of Michigan, where he endowed the Charles T. Munger Professorship of Business at the Ross School of Business. He also donated $110 million to the University of California, Santa Barbara, to create the Munger Research Center. In addition, he donated to the Huntington Library in San Marino, California, and the Stanford University Law School.
