Charlie Munger – vice chairman of American insurance giant Berkshire Hathaway – passed away in Los Angeles on Tuesday at the age of 99, according to a company announcement.
- The firm said that it was advised of Munger’s death by members of his family, who say he passed away peacefully on the morning of November 28 in a California hospital.
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“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation,” said Warren Buffet, CEO of Berkshire Hathaway, regarding his death.
- Like Buffet, Munger was notoriously bearish on crypto, and well-known as one of the leading voices advocating that Bitcoin (BTC) be banned in the United States.
- Among his chief criticisms were that the asset is good for “kidnappers” and that it is harmful to the interests of the United States. He once compared it to child pornography.
- In an interview with the Wall Street Journal earlier this month, he called bitcoin a “stinkball” thrown into a long-working recipe for producing strong currencies.
- Among Munger’s chief investment principles were for investors to buy things they understand, and buy businesses with durable competitive advantages run by leaders with integrity.
- According to Forbes, Munger’s net worth was estimated at $2.7 billion as of September.
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