Charlie Munger, the sharp-witted vice-chair of Berkshire Hathaway and investment partner of Warren Buffett, died aged 99 on Tuesday at a California hospital.
"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, wishes to say: “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation”.
The death of Berkshire Hathaway's Charlie Munger heralds the end of an era, leaving Warren Buffett as the conglomerate's lone investing legend and shining the spotlight on managers who have largely operated in their shadow.
Few companies have been so closely associated with their leaders as Berkshire has with Buffett and Munger, who knew each other for more than six decades, the last 45 years as the Omaha, Nebraska-based conglomerate's chairman and vice chairman.
Munger's death on Tuesday, five weeks shy of his 100th birthday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Buffett's top advisers and sounding boards.
