Charlie Munger
Born 1924 · Age 101
American businessman, investor, attorney and philanthropist; vice chairman of Berkshire Hathaway (1978–2023); founding partner of Munger, Tolles & Olson; long-time partner and intellectual counterpoint to Warren Buffett.
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Life & Career Timeline
Born in Omaha, Nebraska
Charles Thomas Munger was born to Florence (Russell) and Alfred Case Munger in Omaha, Nebraska.
Worked at Buffett & Son grocery (teenage job)
As a teenager Munger worked at Buffett & Son, the grocery store owned by Warren Buffett's grandfather, Ernest P. Buffett. (Approximate year based on 'as a teenager' wording.)
Enrolled at University of Michigan (mathematics)
Munger enrolled at the University of Michigan and studied mathematics; joined Sigma Phi fraternity. (Enrollment year inferred because he left college in early 1943.)
Dropped out to join U.S. Army Air Corps
A few days after his 19th birthday Munger dropped out of college to serve in the U.S. Army Air Corps during World War II.
Ordered to study meteorology at Caltech
After scoring highly on the Army General Classification Test, the Army ordered Munger to study meteorology at the California Institute of Technology (Caltech) in Pasadena.
Became Second Lieutenant, U.S. Army Air Forces
Served in the Army Air Forces during World War II and attained the rank of second lieutenant (service years 1943–1946).
Married Nancy Huggins
While studying at Caltech Munger married Nancy Huggins (they later divorced in 1953).
Left military service
Concluded active service in the U.S. Army Air Forces (discharge around 1946) and used the G.I. Bill for further studies.
Admitted to Harvard Law School (despite no undergrad)
Admitted to Harvard Law School after intervention by family friend Roscoe Pound even though he had not completed an undergraduate degree (admission timing inferred from graduation year).
Graduated Harvard Law School, J.D., magna cum laude
Completed the J.D. degree (magna cum laude); was a member of the Harvard Legal Aid Bureau.
Joined law firm Wright & Garrett (Musick, Peeler & Garrett)
Moved to California and joined the law firm Wright & Garrett (later Musick, Peeler & Garrett) and practiced real estate law.
Divorced Nancy Huggins
Divorced first wife Nancy Huggins (married 1945; divorced 1953).
Married Nancy Barry Borthwick
Remarried to Nancy Barry (later Nancy Barry Munger); they had four children and two stepchildren between them.
Founded Munger, Tolles & Olson (law firm)
Founded and practiced as a real estate attorney at Munger, Tolles & Olson LLP in Los Angeles.
Co-founded Wheeler, Munger & Company (investment firm)
Partnered with Jack Wheeler to form Wheeler, Munger & Company, an investment firm with a seat on the Pacific Coast Stock Exchange.
Began investment partnership (Wheeler, Munger & Co.)
Started managing investments through Wheeler, Munger & Co.; later reported to have produced strong compound returns (1962–1975).
Gave major pro‑bono/legal support for abortion rights (1960s–1970s activism)
In the 1960s Munger helped California women obtain abortions in Mexico and later was active in legal efforts persuading the California Supreme Court on constitutional grounds; he solicited amici and worked on briefs.
Convinced Buffett to buy See's Candies ($25M)
Munger persuaded Warren Buffett to buy See's Candies for $25 million; See's later became a long-term compounding business for Berkshire.
Wheeler, Munger & Co. lost 32% in 1973
Partnership suffered a large yearly loss (32%) amid market turmoil.
Wheeler, Munger & Co. lost 31% in 1974
Partnership incurred another large loss (31%) in 1974.
Wound up Wheeler, Munger & Co.
Munger closed his investment partnership in the wake of the early-1970s losses and changing market conditions.
Appointed Vice Chairman of Berkshire Hathaway
Munger formally joined Berkshire Hathaway as vice chairman, a position he held until his death in 2023.
Berkshire-related role expansions (Blue Chip/Wesco consolidation era)
During the early 1980s Munger's investments (e.g., Blue Chip Stamps) were merged into Berkshire, increasing his stake and influence (timeline and dates associated with mergers in late 1970s–early 1980s).
Became chairman (Wesco) — meetings legendary
Under Munger's chairmanship (Wesco annual meetings in Pasadena became legendary forums for his extended commentary), Wesco built a concentrated investment portfolio.
Became Chairman of Wesco Financial Corporation
Munger served as chairman of Wesco Financial Corporation from 1984 through 2011; Wesco held a concentrated portfolio including Coca-Cola and Wells Fargo.
Influenced Berkshire's purchase of Coca‑Cola stock (approx.)
Munger influenced Buffett's move from strict Graham-style value into buying durable franchises such as Coca‑Cola (Berkshire began purchasing Coca‑Cola shares in 1988).
Public articulation of 'latticework of mental models'
Munger popularized the concept of gathering multidisciplinary mental models and 'elementary, worldly wisdom' to approach investing and problem solving (articulated across speeches and later compilations).
Net worth reported (Forbes/1995)
Forbes reported that Munger's 1.6% stake in Berkshire was worth about $610 million (1995 figure cited in contemporaneous coverage).
Delivered 'The Psychology of Human Misjudgment' (Harvard talk)
Famous Harvard lecture (1995) describing many cognitive biases and his 'latticework' of mental models and the 'Lollapalooza effect.'
Donated $1.8M to Marlborough School
Charlie and Nancy Munger donated $1.8 million to the Marlborough School in Los Angeles (Nancy was an alumna).
Elected to Stanford University Board of Trustees
Munger (and family) served as major benefactors and trustees; he was elected to Stanford's board of trustees in February 2003.
Donated 500 Berkshire A shares to Stanford (~$43.5M)
Mungers donated 500 Class A Berkshire Hathaway shares (valued at about $43.5 million at the time) to Stanford to build a graduate student housing complex.
Poor Charlie's Almanack published (compilation)
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger (collection of speeches/aphorisms/essays) was published (Munger material central to the book and his 'worldly wisdom' concept).
Donated 100 Berkshire A shares to Harvard-Westlake (~$9.2M)
Donated 100 Class A Berkshire Hathaway shares, valued at about $9.2 million then, toward a building campaign at Harvard-Westlake School's middle school campus.
Gave $3M gift to University of Michigan Law School
Gifted $3 million for lighting improvements at Hutchins Hall and the William W. Cook Legal Research Building, including the Reading Room.
Delivered DuBridge Distinguished Lecture at Caltech
Gave the DuBridge Distinguished Lecture at Caltech (extensively referenced/sourced in profiles of Munger).
Donated 8 Berkshire A shares to Harvard-Westlake (~$800k)
Gave 8 Class A Berkshire shares worth nearly $800,000 to Harvard-Westlake School.
Munger Graduate Residence (Stanford) opened
The Munger Graduate Residence at Stanford (funded and designed by Munger) opened in late 2009, housing roughly 600 law and graduate students.
Interview & Q&A at Harvard‑Westlake School
Delivered an interview and Q&A addressing the 2008 financial crisis, ethics, and responsibility; referenced philosopher Charles Frankel.
Donated $20M to Michigan Law School (Lawyers Club renovation)
Contributed $20 million toward a $39 million renovation to the Lawyers Club housing complex; renovated portion renamed Charles T. Munger Residences in the Lawyers Club.
Wesco meetings ended; Daily Journal annual meeting prominence increased
After Wesco stopped holding annual meetings (post-2011), Munger's speeches at the Daily Journal annual meeting grew in importance to investors.
Donated 10 shares of Berkshire Class A to University of Michigan (~$1.2M)
Gave 10 shares of Berkshire Hathaway Class A stock (then valued at ~ $1.2 million total) to the University of Michigan.
Pledged $110M to University of Michigan (largest gift in school history)
Announced a $110 million gift to build a multidisciplinary graduate residence; included $10M for graduate fellowships. Gift included design input by Munger.
Donated $65M to Kavli Institute for Theoretical Physics (UCSB)
Announced a $65 million gift to UC Santa Barbara's Kavli Institute for Theoretical Physics to fund a residence for visiting physicists.
Munger Graduate Residences opened at University of Michigan
The graduate residence designed by Munger (600 single bedrooms) opened and began housing graduate students in 2015.
Announced $200M gift to UC Santa Barbara (conditional)
Announced a $200 million gift to UCSB for construction of Munger Hall (a controversial, largely windowless dorm design) conditioned on the university following his design.
Spoke at Michigan Ross (conversation on investing & life)
Participated in a public conversation with the University of Michigan Ross School (Munger remained active in speaking engagements and university visits).
Public criticism of cryptocurrencies and Robinhood (public comments over time)
Over multiple public remarks Munger called Bitcoin and cryptocurrencies 'noxious poison', 'stupid', 'immoral' and likened trading platforms to gambling; outspoken critic across 2010s–2020s.
Spoke at Daily Journal annual meeting (long speech)
Delivered a lengthy public address at the Daily Journal Corporation annual meeting in Los Angeles; these meetings were widely followed by investors.
Architect resigned over Munger Hall design controversy
UCSB campus architect Dennis McFadden resigned in protest in October 2021 citing concerns about Munger's windowless dorm design; the design became a major public controversy.
Estimated net worth at time of death
Forbes estimated Munger's net worth at $2.6 billion at the time of his death in 2023 (ranked ~1,182nd richest person).
UCSB abandoned Munger Hall project; Munger withdrew pledge
After substantial backlash over the planned windowless dormitory, UC Santa Barbara abandoned the Munger Hall project and Munger withdrew his $200 million pledge.
Donated 77 Class A Berkshire shares to Huntington (~$40.3M)
Gifted 77 Berkshire Hathaway Class A shares (filed with SEC) valued at more than $40.3 million to the Huntington Library and Art Museum.
Died in Santa Barbara, California
Charlie Munger died at a Santa Barbara hospital on November 28, 2023 at age 99. Warren Buffett and many business leaders issued statements praising him.
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