Charlie Munger is an American Investor and a Philanthropist who is the director of Costco Wholesale Corporation and the chairman of the Daily Journal Corporation. He is best known as Warren Buffet’s right-hand man, the vice chairman of Buffet’s Berkshire Hathaway Corporation. Keep reading to know more about Charlie Munger’s net worth in 2018.
Charlie Munger Early Life
Charlie Munger was born on January 1, 1924, in Omaha, Nebraska. He was born to his parents, Alfred C. Munger and Florence Munger. He did his schooling in Omaha, and for further studies, he moved to Michigan.
After moving to Michigan, he attended the University of Michigan. There he took mathematics as his main subject. He dropped out of the University and joined the U.S. Army Air Corps where he became the Second Lieutenant.
Charlie then joined California Institute of Technology, where he continued his studies in Meteorology. Soon he entered the Harvard Law School and graduated Juris Doctor with honors. At Harvard, he was also a member of the Harvard Legal Aid Bureau.
Charlie Munger has been married twice. First, he married to Nancy Huggins. With Huggins, Charlie has two kids, Wendy Munger & Molly Munger. Both the girls are well educated and are on top of their professions.
His second marriage was with Nancy Barry. With her, Charlie has four children of his own and two step-children. Nancy Barry Munger died in 2010.
Charlie Munger Career
After graduating, Charlie and his family moved to California where he started working for a law firm, Wright & Garrett. Soon he founded his own real estate attorney firm called Munger, Tolles & Olson LLP.
After a while, Charlie stopped practicing law and started concentrating on managing the investments and partnered with Otis Booth in the real estate development. Soon, Charlie formed an investment firm called Wheeler, Munger & Company with Jack Wheeler. But after the heavy losses, Charlie and his partner shut down their firm.
Charlie Munger served as the chairman of Wesco Financial Corporation till 2011and now owes full subsidiary of Berkshire Hathaway Corporation. Berkshire Hathaway Corporation has control over different ventures and has their stocks in companies like Coca-Cola, Wells Fargo, Kraft Foods, etc.
Charlie is also a director of Costco Wholesale Corporation and the chairman of the Daily Journal Corporation. After acquiring enough shares in Berkshire Hathaway Corporation, he is the partner of Warren Buffet.
Awards and Achievements
Charlie Munger has not received any awards but has done a lot of good deed for the community. To begin with, He has donated $3 million to the University of Michigan Law for the renovation of their building structures. Munger donated 500 shares of Berkshire Hathaway Corporation which were worth $43 million to Stanford to build a graduate student housing complex.
Charlie along with his wife Nancy Barry donated $1.8 million to the Polytechnic School in Pasadena. In the history of the University of Michigan, he donated the single largest donation of $110 million. He then donated $65 million to the Theoretical Physics at the University of California.
Recently in 2016, Charlie Munger donated whooping $200 million to UC of Santa Barbara for the state of Art Student Housing.
Net Worth of Charlie Munger
The estimated net worth of Charlie Munger is estimated at $1.75 billion. He is a man who has earned his fame and fortune through pure hard work and sheer dedication. Even having such healthy income and huge net worth, Charlie never misused his money, but always made sure that he’s putting his earnings to good use.
Charlie Munger is a man who has worked hard to achieve his success and most importantly, donated a lot of his success for the good causes. Almost 93, Charlie has achieved everything he ever dreamed of. He is an inspiration to all the young investors.