12/2/2023, 12:55 PM (Source: TeleTrader)
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Munger: The billionaire behind Berkshire Hathaway's success

Berkshire Hathaway Inc.'s Vice Chairman Charlie Munger, who passed away on November 28 at the age of 99, was one of the main actors responsible for catapulting the company to success. CEO Warren Buffett, himself, told Fortune magazine that he was "shaped tremendously by Charlie," as the latter acted as his right hand for over four decades.

Munger, who worked as a real estate attorney before joining Berkshire in the 1970s, was known for his pragmatic investing, with his net worth said to have reached around $2.2 billion in April 2023, according to Forbes. In his younger days, the billionaire dropped out of the University of Michigan to join the army during World War II but later earned a degree from Harvard Law School. He started his friendship with Buffett back in 1959. Before becoming the investment conglomerate's vice chairman in 1978, Munger ran his own hedge fund from 1962 to 1975.

Business strategy-wise, Munger was the one guiding Buffett to diversify his investments, pushing the CEO to look into companies that were undervalued but of high quality. Beyond this, he also actively participated in discussions on major agreements. The company's current market capitalization stands at around $775 billion, as its stock has skyrocketed 396,182% since Munger joined in 1978, according to Bespoke. "Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation," Buffett remarked in a statement.

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