Outpouring of Tributes for Esteemed Investment Guru Charlie Munger

Charlie Munger, a trusted confidante of veteran investor Warren Buffett, has passed away at the age of 99. Munger, who had been a vice chairman at Berkshire Hathaway since 1978, played a vital role in building the company. Buffett praised Munger's contribution, stating that Berkshire Hathaway would not have achieved its current status without his inspiration, wisdom, and participation. Munger, who would have turned 100 on 1 January, died peacefully at a hospital in California. Throughout his tenure, he worked closely with Buffett on capital allocation and was known for his straightforward approach, never holding back when he believed his business partner was making a mistake. Various tributes have poured in for Munger, highlighting his significant influence in the investment community. Tim Cook, CEO of Apple, described him as a titan of business and a keen observer of the world. Munger's role in steering Buffett away from investing in underperforming companies, known as "cigar butts," was also acknowledged. His passing comes shortly after Buffett donated a substantial amount of Berkshire stock to family charities. Although Munger's fortune was estimated at $2.3 billion in early 2023, significantly smaller than Buffett's estimated fortune of over $100 billion, his impact on the investment world was immense. As for Berkshire Hathaway's future, Greg Abel and Ajit Jain serve as the company's two other chairmen, overseeing day-to-day operations. In 2021, Buffett named Greg Abel as his successor. Munger's presence will be sorely missed by Berkshire shareholders, who enjoyed his candid and colorful quotes at the company's annual gatherings.