Charlie Munger, born on January 1, 1924, in Omaha, Nebraska, continues to serve as Berkshire Hathaway's vice chairman at the ripe age of 99. Originally studying physics at Caltech, Munger later became a meteorologist in the U.S. Army and later attended Harvard University for his Juris Doctor degree in 1948.
Known for coining the term "Lollapalooza Effect," Munger has had an illustrious career with Berkshire Hathaway. He first crossed paths with Warren Buffett in 1959 and subsequently co-founded Wheeler, Munger, and Company in 1962. This investment firm was dissolved in 1975, but Munger remained with Berkshire Hathaway as a vice chairman, a position he holds to this day.
Munger served as CEO and Chairman of Wesco Financial Corporation from 1984 to 2011, and his compensation has remained unchanged since 1984. In 2015, Munger looked back on 50 years of Berkshire Hathaway's success. Despite his advanced age, Munger's insights and influence remain invaluable to Berkshire Hathaway and the financial industry as a whole.
Munger is also recognized for his unique investment philosophy, which emphasizes paying fair prices for exceptional businesses and a long-term perspective on intrinsic value. He advocates for a focused investment strategy, identifying strong brands and competent management, and a decentralized management structure for Berkshire's subsidiaries.
Munger's contributions to Berkshire Hathaway have led to significant wealth accumulation and the company's transformation into one of the largest and most successful conglomerates worldwide.
Charlie Munger, enlisted in the US Army after studying Physics at Caltech, later becoming a meteorologist. He attended Harvard University for his Juris Doctor degree in 1948.
In 1959, Munger came into contact with Warren Buffett at a dinner party, and they formed a lasting relationship. Their partnership led to Munger's founding of Wheeler, Munger, and Company in 1962. After the dissolution of this firm in 1975, Munger remained with Berkshire Hathaway as a vice chairman. He held the position of CEO and Chairman of Wesco Financial Corporation from 1984 to 2011 and hasn't received a salary increase since 1984.
Known for coining the term "Lollapalooza Effect," Munger has had a significant impact at Berkshire Hathaway. His unique investment philosophy, which emphasizes paying fair prices for exceptional businesses, a long-term perspective, and focusing on solid brands and competent management, has led the company to great success. Munger's wealth has grown exponentially over the past four decades, making him one of the wealthiest individuals in the financial world.
Munger's leadership has also shaped Berkshire's subsidiaries, advocating for a decentralized management structure that allows companies to grow and succeed while benefiting from Berkshire's financial strength.
In 2015, Munger looked back at 50 years of Berkshire Hathaway's success and remains an influential figure in the financial industry, known for his critical thinking, multidisciplinary approaches, and advocacy for ethical business practices.
As Berkshire Hathaway's vice chairman, Charlie Munger continues to make significant contributions to the financial world. Born on January 1, 1924, and attending Harvard University for his J.D. in 1948, Munger first crossed paths with Warren Buffett in 1959. After forming a lasting relationship, Munger co-founded Wheeler, Munger, and Company in 1962.
Over the years, Munger has held various positions, including CEO and Chairman of Wesco Financial Corporation from 1984 to 2011, and vice chairman of Berkshire Hathaway, a role he still holds to this day. Their partnership has remained crucial to Berkshire Hathaway's success.
Munger's unique investment philosophy, which emphasizes paying fair prices for exceptional businesses and a long-term perspective on intrinsic value, has led to significant wealth accumulation for Munger and the company. His leadership has also shaped Berkshire's investments in strong brands and competent management, as well as implementing a decentralized management structure for the company's subsidiaries.
Known for coining the term "Lollapalooza Effect," Munger's contributions to Berkshire Hathaway have been instrumental in the company's transformation into one of the largest and most successful conglomerates worldwide. His advocacy for ethical business practices, long-term thinking, and multidisciplinary approaches has left a lasting impact on the financial industry.
