Charlie Munger is a prominent name in the field of finance and investment. Munger has a very close relationship with the field as he had been associated with it for decades.
During his career, Charlie Munger has served in very significant positions in some of the most popular financial and investment institutions. Currently, Charlie Munger serves as the vice-chairperson of the American multinational conglomerate holding company Berkshire Hathaway, which Warren Buffett controls.
He is the current CEO and chairman of the company and has been regarded as one of the most successful investors in the world. Warren Buffett has described Charlie Munger as his closest partner and also as his right-hand man.
Apart from his position at Berkshire Hathaway, Munger also serves as the chairman of Daily Journal Corporation and also as the director of Costco Wholesale Corporation.
Charlie Munger is known for his skeptical approach toward cryptocurrencies. Munger had been making headlines recently for a statement in which he said that the United States should take the lead set by China and ban cryptocurrencies. Munger had been very skeptical of the concept of cryptocurrencies earlier too.
While talking about the success of cryptocurrencies, Munger remarked it was ‘disgusting’ as they were used by kidnappers. Not just Munger but his firm Berkshire Hathaway and its chairman Warren Buffett are also on the same stand as Munger regarding cryptocurrencies.
Just like his disapproval of cryptocurrencies, there is more to know about Charlie Munger so, here is everything you need to know about him.
Charlie Munger – Early Life
Charles Thomas Munger was born on January 1, 1924, in Omaha, Nebraska as the son of Alfred C. Munger and Florence Munger. His father was a Harvard-trained lawyer, following the footsteps of his father Thomas Charles Munger.
Charlie Munger’s grandfather, Thomas Charles Munger served as a U.S. court judge and state representative. He was nominated by Theodore Roosevelt in 1907 to become the judge of the U.S. District Court of Nebraska.
Charlie Munger attended Omaha Central high school for his formal education. After graduating high school, Munger enrolled at multiple prestigious Universities where he studied different subjects.
Munger attended the University of Michigan in 1941 and took up mathematics. Munger did not complete his term at the university as he dropped out and decided to join the U.S. Army Air Corps. During his time serving in the army, Munger earned the title of second lieutenant and also became a meteorologist.
Charlie Munger also attended institutions like Caltech and Harvard as a student. At Caltech, he studied subjects like physics and meteorology, because of which he was able to serve as the meteorologist for the U.S. Army during World War II.
Joining the prestigious Harvard University was not easy for Munger as he did not hold any undergraduate degree. Due to this reason, his application was rejected multiple times. Munger was finally able to join the university after convincing the dean through a family friend.
As he was born in the same hometown as Warren Buffett, Munger had a strong relationship with the Buffett family right from his early days. Munger used to work for a grocery store owned by Warren Buffett’s grandfather Ernest P. Buffett when he was just a teenager.
Charlie Munger – Career
Charlie Munger followed in the footsteps of his father and joined Harvard Law School to study law. After completing his studies in 1948, Munger decided to pursue his career as a lawyer. In order to fulfill his dream, Munger shifted to California and took up his first job at Wright & Garrett law firm.
After serving at the firm for some time, Munger left the job and started a new firm called Munger, Tolles & Olsen, where he worked as a real estate attorney. Munger later decided to give up his profession as a lawyer and decided to concentrate on investments as his next possible career choice.
Even though Charlie Munger is most known for his operations associated with Berkshire Hathaway. Munger used to run an investment partnership named Wheeler, Munger, and Company.
The company was founded in 1962 and was eventually closed down in 1975 after facing some losses for years before closing down. Also, Munger used to serve as the chairman of Wesco Financial Corporation which is now a subsidiary of Berkshire Hathaway.
Eventually, Charlie Munger joined Berkshire Hathaway along with Warren Buffet and he became the vice chairperson of the company in 1978. Along with managing the vice chairman position at Berkshire, Munger also serves as the chairman of Daily Journal Corporation.
Charlie Munger – Net Worth
Even though he chose the profession of a lawyer, Charlie Munger decided to change it and chose the field of investment and finance. The results and the achievements that he has had in the field are proof that the decision he took years back was the right one.
Through his highly successful career in the field, Charlie Munger was able to build a net of $2.3 billion. Munger owes his billionaire status to his different job which pays him a considerable amount.
Currently, he is the vice chairperson of Berkshire Hathaway, the chairman of publisher Daily Journal Corp and also a prominent member of the board of retailer Costco. Charlie Munger is currently 99 years old.
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Charlie Munger – Personal Life And Family
Charlie Munger is a philanthropist and has made significant donations to some of the educational institutions in the nation like the University of Michigan, Marlborough School in Los Angeles, Polytechnic School in Pasadena, and many more.
As for his political views, Charlie Munger is a Republican but he referred to himself as “not a normal Republican.”
Charlie Munger got married for the first time in 1945, while he was a student at Caltech. Munger got married to Nancy Huggin, who was the roommate of his sister at Scripps College. The couple had a total of three children from their marriage. They were named Wendy Munger, Molly Munger, and Teddy Munger.
The youngest child among them, Teddy Munger passed away at the young age of nine due to leukemia. The couple eventually got separated and filed for divorce. Later in her life, Nancy Huggin was diagnosed with cancer and she passed away due to the illness on July 22, 2002.
After his divorce from Nancy, Munger got re-married to Nancy Barry. Munger and his second wife had four children from their marriage named Charles T. Munger Jr., Emilie Munger Ogden, Barry A. Munger, and Philip R. Munger. Unfortunately on February 6, 2010, Nancy Barry passed away at the age of 86.
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