Veteran investor Charlie Munger, the right-hand man to Warren Buffett, has died at the age of 99.
Munger, who would have turned 100 on 1 January, died peacefully on Tuesday morning (28 November) at a California hospital, according to a statement from his family.
Munger had been a vice chair at Berkshire Hathaway since 1978. Buffet, his long-time colleague and CEO, paid tribute to him following the news of his passing.
"Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation," he said.
Munger was credited with helping Buffett choose how to invest the firm's capital, and loudly pointing out any potential mistakes.
Tributes from industry leaders have poured, commenting on Munger's "wisdom" in particular.
Posting on X, formerly Twitter, Apple's CEO Tim Cook described Munger as "a titan of business and keen observer of the world around him, Charlie Munger helped build an American institution".
"Through his wisdom and insights, [he] inspired a generation of leaders. He will be sorely missed. Rest in peace Charlie," he added.
Brian Moynihan, CEO of Bank of America, said: "Charlie Munger was a legendary figure in the investment community. There are many who benefited greatly from his wisdom."
Charlie Huggins, portfolio manager at Wealth Club, recalled his trips to Berkshire's AGM. He said: "Every year Charlie Munger shared his wisdom, alongside his long-time investment partner, Warren Buffett, at Berkshire Hathaway's annual general meeting. Every year I listened intently.
"It is no exaggeration to say that without these meetings, I would not be half the investor I am today. I may not even be investing at all."
He said: "Buffett aside, Charlie Munger has taught me more about investing than all other investors combined. No other person on the planet, not even his business partner, had his ability to boil down business and investment principles to their core essence.
"Munger was a man of few words, but every one dripped with insight. Munger could pack more wisdom into a single sentence than some people get across in a lifetime."
