Berkshire Hathaway a few minutes ago was advised by members of Charlie Munger’s family that he peacefully died this morning at a California hospital.
Warren Buffett, CEO of Berkshire Hathaway, said in a statement: “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”
The family will handle all affairs pursuant to Charlie’s instructions, the company added.
Reuters:
Munger was 99, and would have turned 100 on Jan. 1. He died peacefully, Berkshire said. No cause was given.
Munger had been a Berkshire vice chairman since 1978, working closely with Buffett on allocating the Omaha, Nebraska-based conglomerate’s capital, and being quick to tell him when he was making a mistake.
The death of Munger is unlikely to have a major impact on Berkshire’s operations.
Two other vice chairmen, Greg Abel and Ajit Jain, have day-to-day oversight of Berkshire’s dozens of operating businesses. Abel is expected to become chief executive once Buffett is no longer in charge.
MacDailyNews Take: R.I.P., Mr. Munger.
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RIP