Who is Charlie Munger?
Charlie Munger (born Charles Thomas Munger) is a prominent American billionaire investor, businessman, and former real estate attorney. He is the vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffet. Buffet has described Munger as his closest partner and right-hand man. From 1984 through 2011, he served as chairman of Wesco Financial Corporation. Moreover, he is the chairman and director of Costco Wholesale Corporation.
How Old Is Charlie Munger?
He is 99 years old as of April 2023, having been born on January 1, 1924, in Omaha, Nebraska, U.S. Charlie Munger shares his birthdate with celebrities such as; Ice Spice, Poppy, Acrello, Verne Troyer (1969-2018), Celia Braud, and many more.
Charlie Munger Family
Who are Charlie Munger’s Parents?
He was born to Alfred Case Munger (Father) a lawyer, and Florence Munger (Mother).
Does Charlie Munger have Siblings?
He has two sisters by name of Mary Munger and Carol Munger.
Charlie Munger Education
He received his education at The University of Michigan where he studied Mathematics. During his time there, he joined the fraternity Sigma Phi Society. A few days after his 19th birthday in early 1943, he dropped out of college to serve in the U.S. Army Air Corps where he became a second lieutenant. After receiving a high score on the Army General Classification Test, he was ordered to study meteorology at Caltech in Pasadena. Then he attended Harvard Law School where he graduated magna cum laude with a J.D. in 1948. At Harvard, he was a member of the Harvard Legal Aid Bureau. Moreover, he has been educated at The California Institute of Technology.
Charlie Munger Wife
As of April 2023, he is single. However, he has been previously married twice. First, he was married to Nancy Huggins, they married in 1945 but divorced in 1953. Nancy Huggins died of cancer at the age of 76 on July 22, 2002. Second, he was married to Nancy Barry, who married in 1956, until her death on February 6, 2010.
Charlie Munger Kids
He has seven kids. Three kids with his first ex-wife Nancy Huggins, two daughters by the name of Wendy Munger, and Molly Munger. And a son by the name of Teddy Munger (deceased of leukemia at the age of 9). And four kids with his late wife Nancy Barry. Three sons by the name of Charles T. Munger, Barry A, Munger, and Philip R. Munger. And a daughter by the name of Emilie Munger Ogden. Moreover, he is a stepfather to two kids by the name of William Harold Borthwick and David Borthwick.
Charlie Munger Investment Career
He moved with his family to California, where he joined the law firm Wright & Garrett (later Musick, Peeler & Garrett). In 1962, he founded and worked as a real estate attorney at Munger, Tolles & Olson LLP. He then gave up the practice of law in order to concentrate on managing investments and later partnered with Otis Booth in real estate development. Next, he partnered with Jack Wheeler to form Wheeler, Munger, and Company, an investment firm with a seat on the Pacific Coast Stock Exchange.
In 1976, he wound up Wheeler, Munger, and Co. after losses of 32% in 1973 and 31% in 1974. Even though Munger is best known for his association with Buffett. From 1962 to 1965 he ran an investment partnership of his own. During the 1962-75 period, his investment partnership generated compound annual returns of 19.8% compared to a 5.0% annual appreciation rate for the Dow. This is according to Buffett’s essay “The Superinvestors of Graham-an-Doddsville” published in 1984. Previously, Munger was the chairman of Wesco Financial Corporation, now a wholly-owned subsidiary of Berkshire Hathaway.
The acquisition of this company was controversial following accusations that Buffett’s company, Blue Chip bought Wesco shares to defeat an impending merger between Wesco and Financial Corp. Wesco began as a savings and loan association but eventually grew to control Precision Steel Corp. Also, Wesco Finacial held a concentrated equity portfolio of over US$1.5 billion in companies such as Coca-Cola, Wells Fargo, Procter & Gamble, US Bancorp, and Goldman Sachs. Wesco is based in Pasadena, California. Pasadena was also the site of the company’s annual shareholders’ meeting. Moreover, Munger is the chairman of the Daily Journal Corporation. Since Wesco meetings ended, the Daily Journal annual meeting has grown in importance, as investors flock to the meeting to listen to him speak at length.
He is a major benefactor of the University of Michigan. In 2007, he made a $3 million gift to the University of Michigan Law School for lighting improvements in Hutchins Hall and the William W. Cook Legal Research Building, including the noted Reading Room. In 2011, he made another gift to the Law School, contributing $20 million for renovations to the Lawyers Club housing complex, which will cover the majority of the $39 million cost. The Mungers then donated $1.8 million in 1997 to the Marlborough School in Los Angeles, of which Nancy Munger was an alumna.
Also, the couple donated to the Polytechnic School in Pasadena and the Los Angeles YMCA. On December 28, 2011, he donated 10 shares of Berkshire Hathaway Class A stock (currently valued at $481,021 per share, or $4.81 million total) to the University of Michigan. He and his late wife Nancy B. Munger have been major benefactors of Stanford University. He and his late wife served as members of the Stanford board of trustees. In 2004, the Mungers donated 500 shares of Berkshire Hathaway Class A stock, then valued at $43.5 million to Stanford to build a graduate student housing complex.
Charlie Munger Height and Measurements
Adding up to his well-built body is a height of 5ft 10 inches (1.8m) and a weight of 70kg (154 lbs).
Charlie Munger’s Salary and Net Worth
News on the internet shows that he has a base salary of $100,000. And has a net worth of $2.3 billion.