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New Delhi: Investor behemoth and billionaire Warren Buffett’s right-hand and a long-term partner Charlie Munger passed away on Tuesday at the age of 99 in California, USA. He was the vice-chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett and his closest friend. No cause was given about the death of Munger.
In a statement, Warrant Buffett, said, “Berkshire Hathaway couldn’t have been built to its present status without Charlie’s inspiration, wisdom and participation.”
Munger’s death is a big loss to the world and investing community whose priciples and philosophy had become a guiding force and mantra for many generations. Munger was known for his light-hearted wisdom and sarcastic but profound philosophical thoughts. A mentor you wish you had once in lifetime.
Charlie Munger’s Early Life and Career
Charlie Munger was born in Omaha, Nebraska in 1924. Coincidentally, he worked at Buffett & Son, a grocery store owned by Warren Buffett’s grandfather, Earnest P. Buffett. Later, he moved to California with his family.
Munger completed his graduation in Mathematics. After, he joined the law firm Wright & Garrett.
Munger’s Wealth and Philosophy
At the time of his death, Munger had the net worth of $2.6 billion, according to Forbes, and was ranked as the 1182nd richest person in the world.
What makes Munger stand out is his sharp mind and straightforward way of thinking. He’s not into fancy jargon or complicated stuff. Nope, he likes to keep it simple. Munger is all about making wise decisions, not just in money matters but in life too.
One of his cool contributions is the concept of “mental models.” Sounds fancy, but it’s just a way of saying he believes in using different approaches and ideas from various fields to solve problems. It’s like having a toolbox filled with different tools for different jobs.
Munger also preaches the value of learning from your mistakes. He’s all, “Don’t be afraid to screw up, just make sure you learn from it.
Munger is a bookworm, soaking up knowledge from all sorts of disciplines. He believes that a big part of being successful is being a continuous learner. So, if you’re looking for some inspiration, Munger’s your guy.
Munger & Warren Buffett’s Friendship
The close frienship of Munger and Buffett is long known to the world. The duo was seen together on many occasion, especially in Berkshire Hathaway’s annual event in California. It’s a huge loss to the world and Warren Buffett.
(With Reuters Inputs)
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