Charlie Munger, the longtime friend and business partner of Warren Buffett, died on Tuesday. He was 99. Munger led Berkshire Hathaway as its vice chairman for decades, helping Buffett build it into an investment powerhouse. He preferred to stay in the background and let Buffett be the face of Berkshire, often downplaying his contributions to the company's remarkable success, the Associated Press said.
Munger's death was confirmed in a statement from the company, which said he died Tuesday at a California hospital. His death was condoled by titans of the business world, including his friend of over 60 years – Warren Buffett.
“Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation,” Warren Buffett said in a statement.
Apple CEO Tim Cook also posted a tribute to Charlie Munger, remembering him as “a keen observer of the world” and a man who helped build an American institution.
Andrew Wilkinson, co-founder of Tiny Capital, wrote: “we’ve lost one of the 20th century’s greatest investors and businessmen.”
“Thanks for the wisdom,” wrote Garry Tan, CEO of Y Combinator
Mark Cuban only shared a series of crying face emojis
Munger joined Buffett at Berkshire Hathaway as vice chairman in 1978, and helped transform it from a small textile company into a gigantic conglomerate, now valued at more than $780 billion.
Unlike Buffett's vast fortune, Charlie Munger's wealth is estimated at a more modest $2.6 billion, although he has donated most of his wealth to charity during his lifetime.
Munger never officially retired from his role at Berkshire Hathaway, and would have turned 100 on January 1, 2024.
(With inputs from agencies)
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