SANTA BARBARA, California (Diya TV) — Charlie Munger, the vice chairman of Berkshire Hathaway and longtime confidant of Warren Buffett, passed away at the age of 99 in a California hospital. Munger’s contributions played a pivotal role in shaping Berkshire into a financial powerhouse, known for its savvy investments in companies like Apple and GEICO.
In a statement, Warren Buffett expressed the profound impact of Munger’s wisdom and inspiration on Berkshire’s success. Munger, who would have turned 100 on January 1, remained an active force despite using a wheelchair for several years.
The dynamic duo of Buffett and Munger reshaped Berkshire since acquiring it in 1965, evolving it into a conglomerate with investments and acquisitions that yielded remarkable stock gains. Berkshire’s shares, purchased at $7-$8 in 1962, reached $546,869 on Tuesday.
Munger’s influence extended beyond Berkshire. He shared his insights through interviews and annual meetings, offering investment wisdom that left an indelible mark on the industry. Investors mourn the loss of a remarkable figure who, alongside Buffett, demonstrated the prowess of collaboration, synergy, and common sense.
While Munger’s passing leaves a void, Berkshire’s operations are expected to continue smoothly under the leadership of Vice Chairmen Greg Abel and Ajit Jain. The annual Berkshire weekend will undoubtedly undergo a change without Munger’s candid and honest comments.