Breaking news: Charlie Munger, friend and business partner of Warren Buffett, dies | CNN Business

0 23

new york

Charlie Munger, billionaire and longtime friend and business partner of Warren Buffett; He is dead. He was 99 years old.

Berkshire Hathaway, the investment firm Munger co-chairs with Buffett, said in a press release that Munger passed away “peacefully” at a California hospital on Tuesday morning. The cause of death was not disclosed.

Charles Thomas MungerNicknamed “Charlie”, he was born on January 1, 1924 in Omaha, Nebraska. Munger left the University of Michigan in 1943 and served in the United States Army during World War II. After the war, Munger attended Harvard Law School, graduating with honors in 1948, and moved to Southern California to practice real estate law. .

“Berkshire Hathaway could not have grown to where it is today without Charlie’s drive, wisdom and involvement,” CEO Warren Buffett said in a press release.

“For decades, the two have led an investment force that has dramatically improved the lives of many people … and in the process, they have demonstrated time and again the ability to collaborate, collaborate and make common sense. Charlie, Allianz Chief Economic Adviser Mohamed El Erian said in a post on X.

Munger was still commenting. In international markets Like a few weeks ago. For example, he told the Accurate podcast that Buffett’s decision to pour billions of dollars into Japan was a “no brainer.”

“It was very easy money,” Munger says with characteristic tenderness. “It was like God opening a box and taking out money.”

Munger met Buffett in 1959 when he was in Omaha for his father’s funeral. Munger and Buffett formed an instant friendship.

Buffett He told CNBC in 2021 that after their first meeting, “I will never meet another person like that…. We just killed him.”

Munger ‘In Love With Xerox Machine’

Munger officially joined Berkshire Hathaway in 1978 as a vice chairman, and for most of his career was known as Buffett’s wise-cracking lieutenant, prone to outspoken advice about the stock market and the economy.

But toward the end of his life, Munger was often in the headlines because of controversy. Munger has often highlighted China’s communist government, which has been criticized by Western governments for human rights abuses. From 1977 to 2022, Munger, a Los Angeles-based newspaper publisher and investment firm, praised the country despite taking action against Chinese tech giant Alibaba, a major Munger investment in the Daily Journal.

CNN has reached out to Berkshire Hathaway for comment.

This is a developing story and will evolve.

Source link

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More