Billionaire Vice Chairman of Berkshire Hathaway Charlie Munger passed away “peacefully” on Tuesday morning at 99 years old, according to a press release.
Munger was born in Omaha in 1924 and linked up with billionaire Warren Buffett — chairman of holding company Berkshire Hathaway — in 1959, according to CNBC. Munger yielded to Buffett in public but the reverse was often true in private, according to The Wall Street Journal.
“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett stated in the press release.
Munger’s net worth was $2.8 billion, according to Forbes. He was ranked 1182 on Forbes’ billionaire list.
His investment portfolios grew at an average of nearly 20% per year compared to the S&P 500’s roughly 5% growth rate during a 14-year period, according to the WSJ.
Munger also served as a weather forecaster during World War II, according to the WSJ.
Berkshire Hathaway reported a $12.8 billion loss in the third quarter of 2023, according to The Associated Press.
Berkshire Hathaway did not immediately respond to the Daily Caller News Foundation’s request for comment.
Republished with permission from The Daily Caller News Foundation.
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