(ReliableNews.org) – Born in Omaha, Nebraska in 1924, Charlie Munger grew up to become one of the most well-known investors in the finance world, next to his long-time friend Warren Buffett. Munger served as vice chairman for Buffett’s company, Berkshire Hathaway, starting in 1978, 13 years after Buffett became CEO. The pair stuck together side by side building an investing empire until November 28, when Munger passed away at the age of 99. After his death, the billionaire’s long-time investment pal issued a press release stating, “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation.”
The Early Years
Munger attended the University of Michigan in 1941 before joining the US Army Air Corps two years later. After his stint serving the United States, the mathematics major attended Harvard Law School, graduating summa cum laude in 1948. Eleven years later, he met Buffett, and they became fast friends. Although Munger spent years afterward putting his law degree to work, he kept in touch with Buffett and found his interests shifted to investing. The rest, as they say, is history for the dynamic duo. Together, they built Berkshire Hathaway, a company currently holding nearly $1 trillion in assets.
NPR described Munger as a straight shooter with a dry sense of humor, known for his one-liners. Business Insider said the man was pragmatic and witty. And he wasn’t afraid to give his opinion when it mattered the most. For example, his feelings about crypto were made clear when he likened the virtual currency to “rat poison.” Clearly, he didn’t mince words. Buffett nicknamed his best friend “The Abominable No Man” because he wasn’t afraid to speak his mind and steer Buffet in a different direction when necessary.
Other Interests and Family
But the attorney and investment guru wasn’t only Buffett’s right-hand man and friend, he also had other ventures. He purchased The Daily Journal, was fascinated with architecture, and was a philanthropist. Not too long ago, Munger told CNBC the secret of a long, happy life. His overall sentiment was to let go of resentment and envy, live within your means, stay positive, surround yourself with “reliable people,” and “do what you’re supposed to do.” He said those simple rules are the key.
Munger had three children with his first — two daughters, Wendy and Molly, and a son, Teddy. With his second wife, he had four more children — Charles Jr., Emilie, Barry, and Philip — and was stepfather to William and David Borthwick.
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