Charles Munger, the long-time partner of Warren Buffett and vice chairman of Berkshire Hathaway Inc., passed away peacefully on Tuesday morning at a California hospital, as announced by Berkshire. Munger’s journey from earning 20 cents an hour during the Great Depression while working for Warren Buffett’s grandfather to becoming a key figure in transforming Berkshire into a multi-billion dollar conglomerate spans over four decades. His partnership with Buffett, formalized in 1975, thrived despite stark differences in style and investment philosophy. Known for his blunt and laconic one-liners, Munger’s unique perspectives on finance and human behavior left an indelible mark. From likening bankers to “heroin addicts” to dubbing Bitcoin “rat poison,” Munger’s insights, often in contrast to Buffett’s, added depth to the leadership of Berkshire Hathaway.
Munger, universally known as Charlie, was not only a key architect of Berkshire’s success but also a billionaire alongside Buffett. His candid reflections on Berkshire’s popularity reflected a pragmatic approach: “I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick. It’s not brilliance. It’s just avoiding stupidity,” he remarked in 2010. Despite their political differences—Munger a Republican and Buffett a Democrat—their collaboration expanded the horizons of Berkshire, leaving an enduring legacy in the business world. Charlie Munger’s wisdom and wit will be remembered as a cornerstone of Berkshire Hathaway’s remarkable journey.