Charlie Munger, Investment Genius Who Helped Warren Buffet Build $783 Billion Empire, Dies At 99

Billionaire philanthropist and Berkshire Hathaway's Vice Chairman, Charlie Munger passed away at the age of 99 on Tuesday night in California. The news was confirmed in a statement released by Berkshire Hathaway, the multinational conglomerate chaired by Munger's close associate, Warren Buffett.

Munger, born in 1924, was set to celebrate his 100th birthday on New Year's Day. A luminary in the business world, Munger's influence extended far beyond the boardroom. His legacy is deeply woven into the fabric of Berkshire Hathaway, as Buffett himself acknowledged, stating that the company owes its present status to Munger's "inspiration, wisdom, and participation."

A trained attorney specializing in real estate, Munger was a name partner at the prestigious Los Angeles-based law firm Munger, Tolles & Olson before joining forces with Warren Buffett and Berkshire Hathaway in 1978. A Harvard Law School alumnus with an unexpected twist, Munger also held a degree in meteorology. Reports suggest that his passion for engineering played a pivotal role in Berkshire Hathaway's decision to invest in the Chinese auto company BYD.

However, recent developments show Berkshire Hathaway steadily reducing its stake in BYD. The most recent sell-off occurred on October 25, bringing the conglomerate's stake down to 7.98% from 8.05%.

Munger's death closely follows Warren Buffett's donation of $866 million worth of Berkshire's stock just a week ago. In a letter to shareholders, Buffett, aged 93, hinted at the inevitability of his eventual exit, saying, "At 93, I feel good but fully realize I am playing in extra innings."

The news of Munger's passing came just a month after investor Mohnish Pabrai shared on October 29 about "breaking bread" with Munger, portraying him in good health. The business world mourns the loss, and even Apple CEO Tim Cook paid tribute, describing Munger as a "keen observer of the world around him" and a "titan of business."