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  • Writer's pictureJamal Saafir

Warren Buffet’s Right-Hand Man, Charlie Munger Passes Away At 99

As reported by multiple news outlets, Charlie Munger, a long-time friend and business partner of investing giant Warren Buffett, has passed.

According to a report from CNBC, Munger’s November 28th passing was made known via a press release from Berkshire Hathaway.

Munger would have been 100 years of age on New Year’s Day.

Berkshire Hathaway stated that it was advised by Munger’s family that he peacefully passed away at a California hospital on Tuesday morning.

“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said in a statement.

Beyond holding the seat of vice chairman of Berkshire Hathaway, Munger dedicated his energy to the roles of a real estate lawyer, architect, philanthropist, chairman and publisher of the Daily Journal Corp., and member of the Costco board.

Early 2023 his wealth was estimated to be valued at $2.3 billion.

Though a wish and a prayer for the majority of the world, Buffett’s wealth was significantly greater, in the amount of $100 billion.

Buffett recognized Munger for cultivating his investment strategy from seeking troubled companies at low acquisition costs in hopes of making gains, to seeking higher-quality but undervalued companies.

In Munger's 2007 USC Law School Commencement Address, he was quoted saying,

“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.”

Another quote from Munger taken from Poor Charlie's Almanack,

“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”

Though praised, recognized, and revered by young investors, Munger did not view cryptocurrency with the same enthusiasm and belief as the young investor’s singing his praise. During the 2023 Daily Journal Annual Meeting, Munger was quoted to have said, "When you’re dealing with something as awful as crypto shit, it's just unspeakable. I’m ashamed of my country that so many people believe in this kind of crap and the government allows it to exist."

Known for his straightforward, fluff-free opinion on various topics of the day and his ability to shed light on investment opportunities for his colleague and friend Warren Buffett, Charlie Munger has solidified his name in the annals of investing-greats.

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