Legendary investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died at age 99.
Munger’s family informed Berkshire “that he peacefully died this Tuesday morning at a California hospital”, the company announced on Tuesday.
In a statement on Tuesday, Buffett said, “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”
Munger was born Charles Thomas Munger in Omaha, Nebraska. 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 the card analogy to explain his approach to investing.
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.
About Charlie Munger Family
About Charlie Munger Parents
Charlie Munger’s parents were Alfred C. Munger and Florence Munger. Alfred C. Munger was a lawyer who was born on October 13, 1891, in Lincoln, Nebraska.
He died on December 28, 1962, in Los Angeles, California1 Florence Munger was born on March 16, 1896, in Nebraska.
She was the daughter of Charles W. Russell and Helen Russell. She died in July 1974, at the age of 78.
About Charlie Munger Siblings
Charlie Munger had two sisters, Carol Munger and Mary Munger. They were both born in Omaha, Nebraska, to Alfred C. Munger and Florence Munger.
Carol Munger was born on May 31, 1947. She served as a missionary with the Trans World Radio for over 45 years.
She worked in various countries, such as Swaziland, South Africa, Guam, and Sri Lanka. She was passionate about sharing the gospel and helping people in need. She died on September 7, 2021, at the age of 74.
Mary Munger was born on May 21, 1944. She had degrees from Auburn Community and SUNY Oswego.
She taught history at MACS and Oswego BOCES for many years. She was interested in genealogy, gardening, and traveling. She died on January 18, 2022, at the age of 77, after a long illness.
About Charlie Munger Wife
Throughout most of his life, Munger was married to his wife of 54 years, Nancy Barry, who passed in 2010
Who was Charlie Munger’s wife, Nancy Barry?
Nancy Barry Munger was the second wife of Charlie Munger, the famous businessman, investor, and philanthropist who died on November 28, 2023.
She was born on June 16, 1923, in New York City, to David Noble Barry Jr. and Emilie Hevener Barry. She graduated from Stanford University in 1945, where she met Charlie Munger. They married in 1956 and had four children together: Wendy, Molly, Barry, and Charles Jr.
Nancy Barry Munger served on the boards of several organizations, such as the Huntington Library, the Los Angeles Opera, the Los Angeles County Museum of Art, and the Natural History Museum of Los Angeles County.
She also donated generously to Stanford University, where she established the Nancy Barry Munger Professorship in Physical Sciences and the Nancy Barry Munger Graduate Residence.
Nancy Barry Munger died on February 6, 2010, at her home in Montecito, California, after a long illness. She was 86 years old.
About Charlie Munger’s ex wife, Nancy Huggins?
Charlie Munger was previously married to Nancy Huggins, the daughter of Frederick R. Huggins and Edith M. Huggins. However, their marriage ended in divorce in 1953.
About Charlie Munger Children
Charlie Munger had six children and two stepchildren in his life. He had three children from his first marriage with Nancy Huggins, who were Wendy Munger and Molly Munger. And Teddy Munger, who died of leukemia at the age of nine.
He had four children from his second marriage with Nancy Barry, who were Charles T. Munger Jr., Emilie Munger Ogden, Barry A. Munger, and Philip R. Munger. He also had two stepsons from Nancy Barry’s previous marriage, who were William Harold Borthwick and David Borthwick.
Here is a brief summary of his children and stepchildren:
Charles T. Munger Jr. is an experimental physicist who worked at the Stanford Linear Accelerator Center. He is also a political activist who sponsored and supported two redistricting measures in California in 2008 and 2010.
Emilie Munger Ogden is a lawyer and a member of the board of trustees of World Learning Inc., a nonprofit organization that promotes international education and development. She also works as an editor and reporter for the Daily Journal of Commerce.
Wendy Munger is a former corporate lawyer and a philanthropist. She is a trustee of Stanford University and The Huntington Library, as well as a supporter of various causes such as education, health, arts, and environment.
Molly Munger is a civil rights lawyer and a funder of a ballot initiative to raise California taxes for public education. She donated more than $44 million to the campaign in 2012.
Philip R. Munger is a composer, music educator, political blogger, and environmentalist. He lives in Alaska and 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 in 2003.
Barry A. Munger is a film producer and a former executive of Walt Disney Studios. He produced movies such as “The Sixth Sense”, “Unbreakable”, and “The Village”.
William Harold Borthwick is a businessman and a former president of the Los Angeles Chamber of Commerce. He is also a director of the Los Angeles World Affairs Council and a trustee of the California Institute of Technology.
David Borthwick is a lawyer and a partner of the law firm Munger, Tolles & Olson. He specializes in corporate, securities, and antitrust litigation. He is also a lecturer at the UCLA School of Law.
Source: www.www.atinkanews.net
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