We are deeply saddened to share with you that Charles Thomas Munger an American businessman, investor and philanthropist passed away on November 28, 2023. After Charlie’s death, his death is a topic of interest among fans. They want to know how much he earned before his death. In this post, you will get all the information related to him and his earnings.
How Much is Charlie Munger’s Net Worth?
Charlie Munger’s net worth is estimated to be $2.6 billion. Munger is one of the wealthiest people in America because of Berkshire Hathaway’s extraordinary profitability and his other assets.
Berkshire Hathaway, the holding company had a market capitalization of $784.94 billion, making it the 9th-highest-valued public company in the world.
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In Which Companies Did Charlie Munger Invest His Money?
He served as vice chairman of Berkshire Hathaway, the company that Warren Buffett owned; Buffett called Munger his right-hand man and closest confidant.
From 1984 to 2011, Munger presided over Wesco Financial Corporation as chairman. In addition, he served as a director of Costco Wholesale Corporation and chairman of the Los Angeles, California-based Daily Journal Corporation.
Munger joined the legal practice of Wright & Garrett after relocating to California with his family. In 1962, he started Munger, Tolles & Olson LLP and practiced real estate law there. After quitting his legal career to focus on investment management, he later entered into a real estate development partnership with Otis Booth.
He first spoke with Buffett about investments during a lunch meeting at the Omaha Club and they never stopped. Subsequently, he and Jack Wheeler collaborated to establish “Wheeler, Munger and Company”, an investment business that holds a seat on the PATCOR.
After suffering losses of 32% in 1973 and 31% in 1974, he closed Wheeler, Munger, and Co. in 1976. Despite being more well-known for his relationship with Buffett, Munger managed his own investing partnership from 1962 to 1975.
Buffett’s 1984 essay “The Superinvestors of Graham-and-Doddsville” claims that during the 1962–1975 period, Munger’s investment partnership produced compound annual returns of 19.8%, whereas the Dow only appreciated 5.0% annually during the same period.
Previously, Munger served as chairman of Wesco Financial Corporation, a Berkshire Hathaway wholly-owned subsidiary. After claims that Buffett’s business, “Blue Chip” purchased Wesco shares to thwart an upcoming merger between Wesco and Financial Corp., the acquisition of this company became contentious.
Initially founded as a savings and loan association, Wesco has expanded to become the owner of several businesses, including Precision Steel Corp., CORT Furniture Leasing, Kansas Bankers Surety Company, and others.
In addition, Wesco Financial owned a concentrated equity portfolio worth over US$1.5 billion, which included investments in firms like US Bancorp, Kraft Foods, Procter & Gamble, Wells Fargo and Goldman Sachs.
Where Did Charlie Munger Work When He Was Young?
On January 1, 1924, Charles Thomas Munger was born in Omaha, Nebraska, to attorney Alfred Case Munger and Florence “Toody” Russell. He worked at Buffett & Son, the grocery shop owned by Ernest P. Buffett, Warren Buffett’s grandfather, while he was a youngster.
Thomas Charles Munger, a state representative and judge on the US District Court was his grandpa. He registered to study mathematics at the University of Michigan. He became a member of the fraternity Sigma Phi Society while attending college.
He left college early in 1943, a few days after turning 19, to enlist in the US Army Air Corps, rising to the rank of second lieutenant. He was sent to study meteorology at Caltech in Pasadena, California, where he was to settle after earning a good score on the Army General Classification Test.
Munger completed several advanced courses at multiple universities with the GI Bill. Because Munger had not finished his undergraduate studies, the dean of admissions at Harvard Law School, his father’s alma school, denied his application.
Munger did exceptionally well in law school, earning a magna cum laude J.D. in 1948. He participated in the Harvard Legal Aid Bureau while attending Harvard. He acquired an important skill in the Army and in college: card games.
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