Warren Buffett's deputy passes away

Billionaire investor Charlie Munger - Warren Buffett's longtime friend and partner at Berkshire Hathaway - has just passed away at the age of 99.

Investment company Berkshire Hathaway announced on November 28 that Munger had passed away "peacefully" that morning at a hospital in California. The cause of death was not disclosed.

Charlie Munger is Warren Buffett's right-hand man. Photo: Reuters

Charlie Munger was born in 1924 in Omaha, Nebraska. He joined the US Army during World War II after graduating from the University of Michigan. After the war, Munger attended Harvard Law School.

Munger met Warren Buffett in 1959 in Omaha and quickly became friends. He joined Berkshire in 1978 as vice chairman. Charlie co-chairs Berkshire's annual shareholder meeting with Buffett, answering investor questions on a range of world issues.

He is known for his short, punchy quotes that make Berkshire fans laugh. At the 2015 Berkshire Shareholders Meeting, he said: "If people weren't wrong so often, we wouldn't be so rich."

"Berkshire Hathaway would not be where it is today without Charlie's wisdom and ability to inspire," CEO Warren Buffett said in the company's November 28 statement.

On X, Mohamed El-Erian - economic advisor to insurance company Allianz commented: "For decades, Munger and Buffett led an investment empire that improved the lives of many people. They showed the power of cooperation".

Investor and economist Whitney Tilson also commented on CNN that Munger's influence "reaches far beyond the investment world." "People come to him thinking they're going to learn a lot of ways to make money. But they get so much more than that," he said.

According to Forbes , Munger is now worth $2.7 billion. A few weeks ago, the billionaire was still commenting on global markets.

Earlier this month, he told a podcast that Buffett’s decision to invest billions of dollars in Japanese companies over the past few years “was a no-brainer.” Munger called it a rare investment opportunity that offers a stable, high-flow, low-risk asset.

Ha Thu (according to CNN)

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