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Charlie Munger, closest aide of Warren Buffet, dies at 99
Berkshire Hathaway Vice Chairman Charlie Munger has died at the age of 99. Warren Buffett's closest aide, Munger never owned an iPhone.
Charlie Munger, the billionaire investor and vice chairman of Berkshire Hathaway, has died at the age of 99. He would have turned 100 on New Year's Day. Munger was highly regarded for his brilliant wit and analysis and was the man behind building the investment firm run by Warren Buffett to its current gigantic state. His knowledge and vision in the tech sector led the company to make concrete investments that generated great dividends. Although Berkshire was very late to the Apple party, one of the biggest tech companies it bet on was the Cupertino-based tech giant, and throughout it, Munger constantly stressed how good the investment was. It is also the company's largest investment, with 859 million shares acquired for a value of 148 billion dollars. Munger was an admirer of iPhone makers, Apple.
The admiration was mutual, it must be said. After news of Munger's passing broke, Apple CEO Tim Cook took to X (formerly Twitter) and posted: "A titan of business and keen observer of the world around him, Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. He will be sorely missed. Rest in peace Charlie."
In 2018, Munger discussed Berkshire Hathaway's ownership of Apple stock in an interview with CNBC. At the time, the investment firm owned 240.3 million shares of the tech giant. When asked why he was so biased toward Apple, Munger said: “I think we've been a little too restrained. I wish we owned more of it”.
He said, “Apple is one of the strongest companies in the world. I judge the strength of the company based on how much the customers love it. And I've got zillions of friends who would part with their right arm before they part with their iPhone. That's a hugely powerful position to be in. I think Apple is ungodly well managed”.
