Tribute to an Icon: Remembering Charlie Munger, Vice President of Berkshire Hathaway

The business world mourns the loss of a true icon as Charlie Munger, the long-time Vice President of Berkshire Hathaway and partner to Warren Buffett, passes away at the age of 99 in a hospital in Santa Barbara, California, leaving behind a legacy of financial success, wisdom, and a sense of humor that will be greatly missed. Munger, known for his sharp mind and wit, was a beloved figure in the financial world and is remembered for his immense contributions to the success of Berkshire Hathaway.

The news of Munger’s passing was announced in a statement by Berkshire Hathaway, where Buffett paid homage to his dear friend and colleague. Under Munger’s guidance as vice chairman of Berkshire Hathaway, the company earned an impressive average annual profit of 20.1% between 1965 and 2021, almost double the return of the S&P 500 index. His contributions to the company and its success were recognized by Buffett himself “Berkshire Hathaway could not have achieved its current status without Charlie’s inspiration, wisdom and participation,” said Buffett, highlighting the significant role that Munger played in the company’s growth.

Munger’s partnership with Buffett lasted more than 60 years, when the two formed a dynamic duo that turned a struggling textile company into one of the world’s most successful conglomerates. His investment approach, focusing on long-term value and avoiding faddish concepts, has become a reference point for other investors.

Munger’s sharp mind and unconventional thinking made him a sought-after speaker at conferences and universities. He was known for his candid and often humorous speeches that offered valuable insights into business and life.

His death has left a void in the business world, with tributes pouring in from all corners. Known for his ability to see beyond numbers and his deep understanding of human behavior, Munger’s legacy will live on and inspire future generations of investors and entrepreneurs.