Billionaire Charlie Munger, the longtime business partner of Warren Buffett and Vice Chairman of Berkshire Hathaway, has died at the age of 99. That is according to a press release by Berkshire Hathaway Inc. today. Berkshire Hathaway this afternoon learned from members of Munger’s family that he peacefully died this morning at a California hospital.
Warren Buffett, CEO of Berkshire Hathaway, gave a statement on his longtime business partner, attributing the corporation’s success to him:
“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation.”
Warren Buffet, CEO of Berkshire Hathaway
According to the press release, the family will handle all affairs pursuant to Charlie Munger’s instructions. A cause of death has not yet been announced.
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Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing, and services. It has become one of the most profitable investment/holding companies in the world.