On Tuesday, the entire investing world mourned after the announcement of Charlie Munger’s death in California.
Berkshire Hathaway revealed on Tuesday that Charlie Munger, the vice chairman and close friend of Warren Buffett for nearly six decades, has passed away in California.
Munger, a legendary investor and polymath, has left behind a significant legacy. The billionaire philanthropist and vice-chairman of Berkshire Hathaway, who was very influential, was almost 100 years old. His 100th birthday would have been on January 1, 2024, but he passed away a month before reaching that milestone at 99.
Bill Gates pays tribute to Charlie Munger
Bill Gates, like many corporate leaders, expressed sadness at Munger’s death. Munger, a longtime business partner of Warren Buffett, had collaborated with Gates on various philanthropic endeavors. They were strengthening their shared commitment to positively impacting the world.
On LinkedIn, Microsoft founder Bill Gates shared his memories of the 99-year-old Munger, highlighting the remarkable mind that Munger possessed. He describes Munger as a guiding influence for countless people, including himself. The tech tycoon expressed that the world feels a sense of loss today, having parted with an extraordinary individual.
In his tribute, 68-year-old Gates acknowledged the decades-long bond shared by the two stalwarts, Munger and Waren Buffett. Gates emphasized that Munger’s partnership with Warren Buffett went beyond shaping Berkshire Hathaway; it transformed the world’s comprehension of business and investing.
Despite enduring hardships throughout his 99 years, Charlie maintained a sharp sense of humor and an even sharper moral compass, offering valuable lessons for everyone.
Bill Gates conveyed gratitude for the time he had the privilege to spend with Munger.
Charlie Munger’s Connection with Bill Gates
For Gates, there was another personal connection that added significance to Munger’s passing. In April 2021, when Bill and Melinda Gates announced their separation after 27 years of marriage, Bill sought support from the law firm Munger, Tolles & Olson, co-established by Munger in 1962.
There was widespread surprise because, despite the firm’s legal prominence, it wasn’t usually involved in high-profile divorce cases like Gates.
Munger’s presence, providing legal counsel and business insights, played a pivotal role in shaping the reputation of the firm.
Buffett and Munger, working together, transformed Berkshire Hathaway into one of the most successful and enduring business partnerships, captivating millions worldwide. Munger played a crucial role as Buffett’s trusted advisor, offering insights on investments and business decisions.
For over five decades, Charlie Munger served as the longtime Vice Chairman of Berkshire Hathaway, contributing significantly to its leadership.
In recent years, Munger, who used a wheelchair, was observed answering questions alongside Buffett at the annual meetings of Berkshire Hathaway.
Born on January 1, 1924, in Omaha, Nebraska, Charles Thomas Munger spent his childhood in the Dundee neighborhood, located half a block from Buffett’s house. He attended the same high school as the investing legend.
As a teenager, Munger worked at Buffett’s grandfather’s grocery store. Still, they didn’t meet until later, at the ages of 35 and 29. When they finally crossed paths, an instant friendship and partnership blossomed between them.
At 17, Munger enrolled at the University of Michigan to study mathematics but dropped out at 19 during World War II to serve in the US Army Air Corps.
During his time in the Army, he studied meteorology at Caltech in Pasadena, California, which eventually became his home.
Following his service in the Army, Munger opted to pursue law, a natural course of activity influenced by his family background. His father was an attorney, and his grandfather was a federal judge.
After his father passed in 1959, Charlie Munger returned to Omaha to manage his affairs. During this time, he had lunch at the Omaha Club with friends who invited Buffett to join. This lunch marked the beginning of an instant friendship and one of the most significant business partnerships ever formed.