Billionaire Charlie Munger (right) and close friend Warren Buffett
The Washington Post reported on November 29 that billionaire Charlie Munger, Vice Chairman of Berkshire Hathaway, Warren Buffett's "right-hand man" and friend for more than 6 decades, passed away in California (USA), at the age of 99.
Berkshire Hathaway issued a statement on November 28 saying "family members of Charlie Munger announced that he passed away peacefully this morning at a hospital in California."
"Berkshire Hathaway could not have built its current position without Charlie's inspiration, wisdom and participation," billionaire Warren Buffett (93 years old) wrote in a statement.
These two billionaires were both born and raised in Omaha, Nebraska. They met in 1959 and became friends for more than 60 years.
Mr. Munger joined Berkshire Hathaway as vice chairman in 1978 and helped transform the business from a small textile company into a giant conglomerate, now worth more than $780 billion.
Unlike Buffett's vast fortune, Munger's fortune is estimated at only $2.6 billion, and he has donated most of his fortune to charity throughout his life. Buffett's estimated net worth is $119.5 billion, making him the sixth richest person in the world , according to Forbes magazine on November 29.
Mr. Munger never officially retired from Berkshire Hathaway and would have turned 100 on January 1, 2024. In a 2017 interview, billionaire Buffett noted that Mr. Munger changed his views on investing for the better.
"He has refined them a lot, in looking for quality companies and the ability to make investments that will pay off over five, 10 or 20 years," AFP quoted Mr. Buffett as saying.
"He has a strong will, I have a strong will. We never argued during that time. It was a pleasure working with Charlie," said billionaire Buffett.
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