Charlie Munger, Berkshire Hathaway’s Vice Chairman and close associate to Warren Buffett, has died at the age of 99.
Buffett, Berkshire Hathaway’s CEO, said in a statement, “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”
According to the Associated Press, Munger was Buffett’s “sounding board on investments and business decisions and helped lead Berkshire for more than five decades and served as its longtime vice chairman.”
Buffett credited Munger with pushing him to broaden his investment strategies.
“He weaned me away from the idea of buying very so-so companies at very cheap prices, knowing that there was some small profit in it, and looking for some really wonderful businesses that we could buy in fair prices,” Buffett told CNBC in 2016.
Describing his and Buffett’s success, Munger said before he died, “We got a little less crazy than most people and a little less stupid than most people and that really helped us.”
Munger’s fortune was estimated to be $2.3 billion.
