Charlie Munger was born on January 1, 1924 in Omaha, Nebraska. He was a famous American investor, lawyer, and vice president of Berkshire Hathaway and chairman of Wesco Financial Corporation (1984 to 2011).
He received a Juris Doctor degree from Harvard Law School in 1948. This education proved to be important in his business and investment career.
Munger served as a meteorologist in the US Army Air Corps during World War II. This experience continued to help him in risk management and strategic thinking.
Munger began his career as a lawyer, but later he entered the world of investment. His investment strategies are still famous today.
Munger had a deep friendship and partnership with Warren Buffett. They first met in 1959 at an Omaha dinner party. His partnership with Buffett made Berkshire Hathaway very successful.
Munger believed that an investor should not just rely on mathematics and statistics, but should also understand human psychology. According to him, a person needs self-awareness and thinking ability to make the right investment decision.
Munger's investment strategy is a mix of “psychology and logic”. He is in favor of investing in the right companies at the right time and thinks that long-term investing is the right way.
Munger's life philosophy is that instead of giving up on any difficulty, one should try to learn from it. He faced difficulties many times in life, but never gave up.
Munger has always valued “smartness”. He believed that the best work in the world is that which is done with wisdom and logic.
Munger had a special approach towards life. He used to say that we should focus on our decisions in life and learn from our experiences.
Munger had difficulties in achieving success initially. He was not able to make a name for himself as a lawyer, but later his path to success opened in the investment field.
Munger received his education from Harvard Law School in 1948, and later he also studied economics from the University of California.
Charlie Munger's net worth was approximately $2.6 billion at the time of his death. This figure was estimated by Forbes magazine. Despite being a billionaire, Munger lived a relatively simple life. He valued knowledge and wisdom over wealth.
Munger donated generously to educational institutions and other charitable organizations. He donated a large portion of his wealth.
Charlie Munger died on November 28, 2023, at the age of 99. He lived for a century and deeply influenced the world of finance and investment.