Billionaire Investment Mogul Passes Away at Age 99

( – Most people, even those who don’t follow financial news closely, know Warren Buffett by his reputation as one of the wealthiest men in the world. Buffett credits a good portion of his wealth and even more of his happiness and day-to-day job satisfaction to his best friend and business partner of 48 years, Charlie Munger. Berkshire Hathaway, the company the two men guided together since the mid-70s, issued a recent press release conveying sad news. At the age of 99, just a few weeks short of his centennial birthday, Munger died on November 28 in a hospital in California.

Although Buffett and Munger both grew up in Omaha, Nebraska, and each worked for Ernest Buffett, Warren’s paternal grandfather, at his grocery store at different times, the 6-year age difference prevented the two from meeting until 1959, when Munger returned to Omaha to close his deceased father’s law practice. A mutual friend, one of Buffett’s investment clients, introduced the two, and they kept in touch.

After the two began working together at Berkshire Hathaway in the 70s, Buffett told the Omaha World-Herald, “We think so much alike that it’s spooky.” In 2018, the two sat for an interview with CNBC’s Becky Quick, and Buffett told her that over the entire course of their friendship and working relationship, “We never had an argument.” He also conveyed that his friend had given him “the ultimate gift” because he’d become a better person for knowing Munger. He concluded, “I’ve lived a better life because of Charlie.”

In 2019, Munger told Quick his secret to happy life with longevity in an interview for CNBC’s “Squawk Box.” They boiled down to this:

  • Don’t be envious
  • Don’t be resentful
  • Don’t spend more than you make
  • Do stay upbeat, even if you have problems
  • Deal with people you can rely on
  • Do what’s right

He said those simple rules improved people’s lives, and they could remember them easily. He lived to nearly 100, garnered a net worth of approximately $2.3 billion, and had the eternal loyalty and admiration of his best friend, who racked up $119.3 billion. The rules seem reasonable.

~Here’s to Our Liberty!

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