Charlie Munger Net Worth: Charles Thomas Munger is an American investor, businessman, and former real estate attorney. Warren Buffett has described Charlie Munger as his closest partner and right-hand man, and Munger holds the position of vice chairman at Berkshire Hathaway, the conglomerate Buffett controls.
As Wesco Financial Corporation’s chairman, Munger oversaw the company from 1984 until 2011. In addition to his position as director of Costco Wholesale Corporation, he also serves as chairman of the Los Angeles-based Daily Journal Corporation.
Early Life Of Charlie
His birth took place on January 1, 1924, in Omaha, Nebraska, and his full name at birth was Charles Thomas Munger. In 1948, he received his Juris Doctor Magna cum laud from Harvard Law School.
Late in the 1950s, Munger relocated his family to California, where he began working for the law firm of Wright & Garrett (later Musick, Peeler & Garrett). Aside from working for other companies, he eventually started his own called Munger, Tolles & Olson LLP.
He then left the legal field to focus on the investment business. At the outset of his career, he entered the real estate development business as a partner of Otis Booth. Later, he formed the investment firm Wheeler, Munger & Company with Jack Wheeler.
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Career Of Charlie
Financial conglomerate Berkshire Hathaway
Young Charlie and Warren Buffett were neighbors and pals in Omaha. As teenagers, they worked side by side at Warren’s grandfather’s grocery store.
At a dinner party in Omaha in 1959, Charlie and Warren saw each other again. At this point in time, Charlie and his family had returned to Omaha from California so that he could take over his late father’s law practice. He followed Warren’s lead and started investing, where he discovered he had a natural talent. Charlie managed his own investment fund for close to ten years. He had a lot of success with his fund, which returned an annualized 19%.
Source: CNBC
Charlie has been Berkshire Hathaway’s Vice Chairman since Warren recruited him to the company in 1978.
Charlie Munger has been the chairman of the Daily Journal Corporation and a director at both Costco Wholesale and Wesco Financial Corporation. He was the chairman of Wesco Financial Corporation from 1984 until 2011.
Sea Meadow
In the late 1920s, Charlie built Sea Meadow, an affluent neighborhood on the Montecito coastline. Safe and secure, the residents of Sea Meadow’s 22 acres are safe and sound. Currently, it is not uncommon for homes in Sea Meadow to sell for $10-20 million, or more, with the monthly HOA fee sitting at $2,700.
Charlie spent his own $11 million on a house in the neighborhood he created in the winter of 2021-2.
Personal Life Of Charlie
Munger married Nancy Huggins in 1945 while attending Caltech. She was Munger’s sister’s Scripps College roommate.
Wendy Munger (a former corporate lawyer, Stanford University trustee, and Huntington Library trustee, Molly Munger (a civil rights attorney and funder of a ballot initiative to raise California taxes for public education, and Teddy Munger (deceased, leukemia, age 9).
Munger remarried after his divorce.
From his second marriage to Nancy Barry, daughter of David Noble Barry Jr. and Emilie Hevener Barry, he has four children: physicist Charles T. Jr., Emilie Munger Ogden, Barry A. Munger, and Philip R. Munger, and two stepchildren: William Harold Borthwick and David Borthwick.
Nancy Huggins Freeman died of cancer on July 22, 2002. Nancy Barry Munger, 86, died at home on February 6, 2010. Republican Munger has weighed in on Trump administration policy.
Munger says he’s “not a normal Republican,” favoring “medicare for all” as a repair to the U.S. healthcare system. Charlie praised Singapore’s single-payer system, calling the U.S. system “crazy” and a “national disgrace.”
Munger had his left eye removed due to pain following a failed cataract surgery in his 50s. Munger started learning braille when doctors informed him he may lose his other sight to blood clots. His right eye is still functional.
Real Estate
Munger initially made millions in real estate, developing a 22-acre seaside neighborhood in Montecito. His homes cost $10 million to $20 million with $2,700 HOA fees.
Charlie Munger Net Worth
Munger is a multi-billionaire American businessman, lawyer, investor, and philanthropist. Charlie Munger net worth as of writing this article is $2.2 Billion. He amassed his fortune through business partnerships and stock investments in numerous profitable enterprises.
He is perhaps best recognized for his role as Warren Buffett’s trusted advisor. Munger is the Vice Chairman of Berkshire Hathaway, Buffett’s conglomerate of investing companies.
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