Charlie Munger, Warren Buffett’s right-hand man and financial genius, died at the age of 99

Charlie Munger, the investment wizard who amassed a fortune before becoming Warren Buffett’s right-hand man at Berkshire Hathaway, died at the age of 99.

Munger died on Tuesday, according to a Berkshire Hathaway news release. Members of Munger’s family informed the group that he died quietly this morning in a California hospital. On New Year’s Day, he would have turned 100.

«Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,» Buffett was quoted as saying in a statement.

Munger was a real estate attorney, the chairman and publisher of the Daily Journal Corp., a member of the Costco board, a philanthropist, and an architect in addition to being a Berkshire vice chairman.

In early 2023, his fortune was believed to be $2.3 billion – a staggering sum for many, but far less than Buffett’s unfathomable fortune, which is predicted to be more than $100 billion.

“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles. You deal with reliable people and you do what you’re supposed to do. And all these simple rules work so well to make your life better. And they’re so trite,” .

“And staying cheerful … because it’s a wise thing to do. Is that so hard? And can you be cheerful when you’re absolutely mired in deep hatred and resentment? Of course you can’t. So why would you take it on?” Munger said.