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Charlie Munger, friend and business partner of Warren Buffett, dies

Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. He was 99 years old.

Berkshire Hathaway, the investment firm that Munger headed with Buffett, said in a press release that Munger passed “peacefully” on Tuesday morning in a California hospital. No cause of death was given.

Charles Thomas Munger, known by his nickname, “Charlie,” was born on January 1, 1924, in Omaha, Nebraska. Munger served in the US Army during World War II after leaving the University of Michigan in 1943 at the age of 19. Following the war, Munger attended Harvard Law School and graduated with honors in 1948 and moved to Southern California, where he practiced real estate law.

“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” CEO Warren Buffett said in the release.

“For so many decades, the two of them led an investment powerhouse that significantly improved so many people’s lives … and, in the process, they repeatedly showcased the prowess of collaboration, synergies, and common sense. May you RIP, Charlie,” said Mohamed El-Erian, Allianz chief economic adviser, in a post on X.

“His impact went far beyond the investing world. People discovered him, thinking that they would learn about ways to make money, but they got so much more,” Whitney Tilson, an investor and expert on both Buffett and Munger, told CNN. “He said if all you have is a hammer, the world looks like a nail.”

Munger, who was worth $2.7 billion, according to Forbes, was still commenting on global markets as recently as a few weeks ago. He told the Acquired podcast, for example, that Buffett’s decision to invest billions of dollars into Japan was “a no-brainer.”

“It was awfully easy money,” said Munger, with his characteristic pithiness. “It was like having God just opening a chest and just pouring money into it.”

https://www.cnn.com/2023/11/28/investing/charlie-munger-dies/index.html

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