Investing world mourns the passing away of Charlie Munger 
Special 
Investing world mourns the passing away of Charlie Munger Charlie Munger, Warren Buffett’s trusted confidante and Berkshire Hathaway vice-chairman since 1978, passed away on Tuesday at the age of 99. Munger would have turned 100 on January 1. As per Berkshire, Munger passed away peacefully at a California hospital.
If Warren Buffett was called the ‘Oracle of Omaha’, Munger, who was second to none was branded the ‘Oracle of Pasadena’ after his adopted hometown in California.
In a statement, the 93-year-old chairman and chief executive of Berkshire, Warren Buffett credited Munger for building the company to its current status today. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” said Buffett in a statement about his trusted confidante.
But not only Buffett, the investing world is mourning the passing away of one of the sharpest investors in the globe. Apple CEO Tim Cook also took to social media to pay his tributes to Charlie Munger. He called the ace investor a “titan of business” and a “keen observer of the world around him”.
Though Munger was not involved in the day-to-day operations, his death would leave a void that Berkshire would find hard to fill. Munger and Buffett worked closely on allocating Berkshire’s capital.
Munger is famously known for making Buffett avoid buying ‘cigar butts’ or mediocre companies that only had a puff of smoke left and could be bought for very cheap prices. He favoured quality instead.
Berkshire is unlikely to replace Munger. Two other vice chairmen, Greg Abel and Ajit Jain, oversee the day-to-day non-insurance and insurance businesses operations. Meanwhile, Berkshire has a succession plan, according to which, Abel would become the chairman after Buffett is no longer in charge.
Buffett recently donated $866 million of Berkshire stock to four family charities and issued a rare shareholder letter acknowledging his own finite time. He, however, said that Berkshire was built to last and would remain in good hands without him.
(With Reuters inputs)
Also read: Warren Buffett's trusted confidante Charlie Munger passes away at 99
Copyright©2025 Living Media India Limited. For reprint rights: Syndications Today
