Munger's death marks the end of an era

Renowned American investor and Berkshire Hathaway owner Warren Buffett's right-hand man, Charlie Munger, has passed away at the age of 99. Berkshire announced that Munger died peacefully in a hospital in California, where he lived. The cause of death was not disclosed. Munger would have turned 100 on January 1.

In a statement, 93-year-old Berkshire Chairman and CEO Buffett said, "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom, and participation."

The death of Munger, who had been Vice Chairman of Berkshire since 1978, marks the end of an era.

WHO IS CHARLIE MUNGER?

Charlie Munger was born on January 1, 1924, in Omaha, Nebraska. He studied mathematics at the University of Michigan and served in the United States Army Air Forces during World War II. After the war, he entered Harvard Law School and graduated in 1948.

Munger began his career as a lawyer and founded his own real estate and construction firm, Wheeler, Munger, and Company, in 1962. However, he later transitioned into the world of investing, where he made a significant impact.

PARTNERSHIP WITH BERKSHIRE HATHAWAY AND WARREN BUFFETT

Munger formed a partnership with Warren Buffett in the late 1960s and became Vice Chairman of Berkshire Hathaway. The duo's partnership helped transform Berkshire Hathaway into a global investment holding company. Munger and Buffett adopted a "value investing" approach, which analyzes the fundamental values of businesses and evaluates their long-term growth potential.

In his role at Berkshire Hathaway, Munger was a key figure in a series of successful investments and acquisitions. He also offered financial advice and life lessons at Berkshire Hathaway's annual meetings, events often referred to as "Woodstock for Capitalists."

News Source: 12punto