On November 28, 2023, Charles Munger, the Vice Chairman of the Board of Directors of Berkshire Hathaway and a titan of the investment industry, passed away peacefully in a hospital in California at the age of 99.
Munger co-founded Berkshire Hathaway Investments with Warren Buffett. Had he lived, Munger would have celebrated his 100th birthday on December 31. Born on January 1, 1924, Charles Thomas Munger was a renowned investment guru. Munger and Buffett met in 1959, but it was not until 1965 that Munger joined Berkshire, and experienced as its Vice Chairman in 1978. Buffett stated, "Without Munger, Berkshire Hathaway would not be what it is today."
Munger lived in Omaha, Nebraska in his early years. He served in the U.S. Army Air Forces and was educated at Harvard Law School. Munger initially worked as a lawyer, but later turned to the investment field and began working with Buffett for decades. The value investment concept they jointly advocate has had a profound impact on the global investment community.
Munger's investment philosophy and strategy, especially his commitment to and promotion of value investing, have become a guide for investors worldwide. He worked with Buffett to transform Berkshire Hathaway from a small textile factory into one of the world's largest investment companies. Munger emphasized the investment orientation of long-term perspective and intrinsic value, which has influenced countless investors and entrepreneurs. As reported by the media earlier this year, Munger's personal wealth was estimated at around 2.3 billion USD (approximately 10.7 billion MYR).
Munger is not only an outstanding investor, but also a philanthropist. He has donated hundreds of millions of dollars for education and scientific research projects. Buffett said in a statement, "Berkshire Hathaway could not have such achievements without Charlie's inspiration, wisdom, and endeavour." Apple's CEO Tim Cook also expressed his condolences on Munger's passing, describing him as "a titan in the business world."
Munger's death is seen as a great loss to the investment community. Munger is known for his profound investment insights and concise handling of complex problems, and his passing marks the end of an era. Munger's investment philosophy, business achievements, and contributions to society will continue to inspire future business leaders and investors.
