Charlie Munger in full, Charles Thomas Munger was an American businessman, investor, and philanthropist who died on November 28, 2023.
He was 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.
Charlie Munger cause of death
Charlie Munger died Tuesday, according to a press release from Berkshire Hathaway.
The conglomerate said it was advised by members of Munger’s family that he peacefully died Tuesday morning at a California hospital just over a month before his 100th birthday.
“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said in a statement.
The famous investor also devoted part of his annual letter to Berkshire shareholders earlier this year to a tribute to Munger.
Charlie Munger Age
Charlie Munger was 99 years old when he died. He was born on January 1, 1924 Omaha, Nebraska, U.S.
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.
He 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.
In college and the Army, he developed “an important skill”: card playing. He used this in his approach to business.
“What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don’t get a big edge often. Opportunity comes, but it doesn’t come often, so seize it when it does come.”
He also used a card analogy to explain an approach to stock trading. He maintained that treating the shares of a company like baseball cards is a losing strategy because it requires one to predict the behavior of often irrational and emotional human beings.
Charlie Munger Net worth
Charlie Munger was a billionaire investor, philanthropist, and lawyer who was known for his pragmatic and witty advice.
His net worth was estimated to be $2.6 billion as of November 28, 2023. He had given away millions of dollars to various causes, especially to universities.
Charlie Munger Wife
Charlie Munger had two wives in his life. His first wife was Nancy Jean Huggins, whom he married in 1945. They had three children together.
His second wife was Nancy Barry Borthwick, whom he married in 1956. They had four children together.
Nancy Barry was a prominent lawyer and philanthropist who served as the president of the Los Angeles Music Center. She died in 2010 after a long illness.
Charlie Munger Children
Charlie Munger has eight children from his two marriages. Here are some facts about his children:
Charles T. Munger Jr.: He is an experimental physicist who worked at the Stanford Linear Accelerator Center. He is also involved in California ballot proposition politics, having sponsored and supported two redistricting measures in 2008 and 2010.
Emilie Munger Ogden: She is a member of the board of trustees of World Learning Inc., an organization that promotes international education and development. She is also an editor and reporter for the Daily Journal of Commerce, a website that covers legal and business news.
Wendy Munger: She is a former corporate lawyer and a trustee of Stanford University and The Huntington Library. She is also a philanthropist who supports various causes, such as education, health, and the arts.
Molly Munger: She is a civil rights attorney and a funder of a ballot initiative to raise California taxes for public education. She has donated more than $44 million to the campaign. She is also a co-founder of The Advancement Project, a policy and legal action organization that works for racial justice.
Philip R. Munger: He is a composer, music educator, political blogger, and environmentalist. He lives in Alaska and works as a faculty member at the University of Alaska Anchorage. He is best known for his cantata “The Skies are Weeping”, written in honor of Rachel Corrie, an American activist who was killed by an Israeli bulldozer in Gaza.
Barry A. Munger: He is a film producer and a former executive at Walt Disney Studios. He has produced several movies, such as “Frankenweenie”, “The Nightmare Before Christmas”, and “James and the Giant Peach”. He is also a board member of the Los Angeles Philharmonic Association.
Teddy Munger: He was the youngest child of Charlie Munger and his first wife, Nancy Huggins. He died of leukemia at the age of nine in 1955.
Charlie Munger Family
Parents : Alfred C. Munger and Florence Munger. Alfred C. Munger
Siblings: Carol Munger and Mary Munger.
Spouse: Nancy Barry (m. 1956–2010), Nancy Huggins (m. 1945–1953)
Children: Charles T. Munger, Jr., Molly Munger, Wendy Munger, Emilie Munger Ogden, Philip R. Munger, Barry A. Munger, Teddy Munger.
Source: www.www.atinkanews.net
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