What Was Charlie Munger’s Net Worth? It Will Surprise You

If you asked individuals who the most famous investor in the world is right now, the majority would probably say “Warren Buffett.” And for a good reason. Boasting a current market cap of $881 billion and growing, what the “Oracle of Omaha” has achieved at Berkshire Hathaway is extraordinary.

Yet every superhero has his sidekick. And in Warren Buffett’s case, he went by the name of Charlie Munger.

The Vice Chair of Berkshire Hathaway, Munger, was Buffett’s close friend, second-in-command, and right-hand man. These two giants of finance worked together for decades, during which Munger earned an impeccable reputation for not just his investing pedigree but also his wise and philanthropic ways. The partnership let Charlie Munger grow his net worth and become a billionaire.

Mr. Munger passed away on November 28, 1999 at the age of 99 about one month before his hundredth birthday. Warren Buffett wrote a eulogy to him in Berkshire Hathaway’s 2023 annual letter.

In this article, we’re going to look at just how successful he became. But, first, read on to discover how much was Charlie Munger worth.

Charlie Munger’s Background

It’s hard to have a discussion about Munger without bringing Buffett into the mix. But, of course, they’ve been part of each other’s lives since 1959, when they had dinner together and became fast friends. Interestingly, though, their paths could have crossed much earlier.

Both born in Omaha, a teenaged Munger actually worked at a grocery store owned by Buffett’s grandfather. There he worked long, ten-hour shifts that earned him a grand total of $2…per day. Buffett also worked at that same store in his youth, just never during the same time.

Munger wasn’t always destined for investment fame either. During World War II, he dropped out of college to join the Army Air Corps (AAC) at 19 years old, where he served between 1943 and 1946. Munger trained as a meteorologist during his time in the military but went on to become a real estate attorney. He took several courses from nearby universities using the GI Bill but did not earn an undergraduate degree. Instead, he graduated magna cum laude with a law degree from Harvard in 1948 – despite never earning an undergraduate degree.

Buffett’s Influence

His transition to investing began in the 1960s at the suggestion of Buffett, with whom he’d stayed in contact after that fateful first dinner in ’59. Munger took to the work with gusto and set up his own investment partnership with a man named Jack Wheeler in 1962. The company was called Wheeler, Munger & Co, and it outperformed the Dow Jones Industrial Average (DJIA) by a staggering 17.9% per annum in the years between its inception and 1970.

Skip ahead another eight years, and in 1978, Munger officially stepped into the role for which he’s best known and held for many years: Vice Chair of Berkshire Hathaway. As a result, Munger grew his net worth into billions of dollars.

Charlie Munger’s Current Net Worth

There aren’t many billionaires who were almost 100 years old. Yet, according to Forbes, Charlie Munger was one of them. His current net worth was about $2.2 billion, which made him one of the oldest billionaires on the planet. However, Munger’s age isn’t the only point of note here.

The actual size of his net worth is interesting too. Indeed, at the time of writing, the same source from Forbes put Munger at number 1,384 on their list of billionaires. Now, look at Buffett. He’s number six, with a whopping personal fortune of topping $130 billion. Those numbers make Munger’s net worth seem paltry by comparison.

So why the discrepancy? Why is Buffett’s right-hand man and a longstanding friend worth so much less than him?

After all, they’re both nonagenarians who’ve held senior positions at Berkshire Hathaway for decades. Furthermore, that isn’t his only source of wealth. Charlie Munger also owns shares in Costco (COST), where he still serves as director, and the Daily Journal Corp (DJCO), where he recently stepped down as Chairman after 45 years in the position.

Charle Munger vs. Warren Buffett Net Worth

It’s most likely a combination of factors. First off, Buffett’s investment journey began much earlier than Munger’s did – both at Berkshire Hathaway and in general. Indeed, by the time Munger joined as Vice Chair, Buffett had been Chair and CEO for approximately 13 years.

That means he’s had far longer to benefit from the magic of compound interest, which makes a vast difference – especially in these latter years when the snowball effect has really gathered pace. Throw in Buffett’s much greater stake in the firm, plus Munger’s long history of philanthropy and his relative “lack” of wealth, is easier to understand.

A final note on the philanthropic part. Buffett’s renowned for his charitable gestures as well, of course. The main difference to Munger is that the bulk of his fortune will likely go to philanthropic causes after his death, not before it. 

Now You Know Charlie Munger’s Net Worth

Charlie Munger’s name might not be at the tip of peoples’ tongues as readily as Buffett’s, but there’s no denying his long list of investing accolades. Moreover, without Munger’s influence, it’s questionable whether Berkshire Hathaway would have prospered as it has done. In fact, Buffett himself credits Munger for his input.

In his 1989 letter to shareholders, he wrote,

“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. Charlie understood this early; I was a slow learner.”

All things considered, it’s no wonder Charlie Munger’s net worth became so sizable, even if it pales in comparison to Buffett’s net worth.

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