Proactive Investors - Charlie Munger, the vice chairman of Berkshire Hathaway (NYSE:BRKa) and longtime collaborator of Warren Buffett, passed away on Tuesday at the age of 99 in California.
Widely considered as one of the most legendary investors to ever do it, Munger played a pivotal role alongside Buffett in transforming Berkshire Hathaway into one of the most successful conglomerates globally.
The duo's business partnership spanned nearly six decades and garnered admiration from millions around the world.
"Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom, and participation,” Buffett said in a statement.
Under the guidance of Buffett and Munger, Berkshire Hathaway evolved into a powerhouse that now wholly owns renowned brands such as Dairy Queen and Fruit of the Loom. The conglomerate also holds substantial stakes in major public companies, including Apple (NASDAQ:AAPL) and Coca-Cola (NYSE:KO).
Munger, known for his wise maxims on business, investing, and life, became an iconic figure in the world of finance.
As a mark of his distinctive style, Munger would often humorously conclude discussions with his famous line, "I have nothing further to add," a phrase that became synonymous with his presence in the business world.