10 Things You Didn’t Know about Charlie Munger

Berkshire Hathaway Shareholders Meeting

Charlie Munger (Charles Munger) is an American lawyer, businessman and investor with an estimated net worth of $1.31 billion.  Munger is best known for being a close business partner to Warren Buffett but Munger’s presence and even popularity is far less than the “Oracle of Omaha.”  He is, however, a man with considerable means, excellent knowledge and a great life to call his own. He’s a man worth admiring. He worked hard, fought his way to the top, and hasn’t backed down since.  He’s impressive, one of the wealthiest men in the world, but there’s a fair amount we don’t know about Munger.

Here are 10 things that might interest you.

He worked for Warren Buffett’s grandfather

When he was growing up, Charles Munger had a great sense of work ethic. As a teen, he had a job at a store that was owned then by Warren Buffett’s grandfather. It was called Buffett & Son, and it was located in Omaha, Nebraska. He wanted to make his own money at the time, so he got a job.  Talk about being in the right place at the right time.

He went to Michigan

When he was old enough to go to college, Charlie Munger made the decision to go to the University of Michigan.  He went to college only until the age of 19.  That’s when he left to join the U.S. Army Air Corps. He had a nice career in the armed forces and he feels it’s important to do that time when you are a young man.

His Doctor of Jurisprudence is from Harvard

He might be a big fan of Michigan and love to give his money to the school, but Charlie Munger did not graduate from Michigan. In fact, we already told you he left his position at the school and ended up going to join the armed forces. When he decided to come back to school, he actually went and obtained his best degree from Harvard University. Fear not, however; he has given Harvard plenty of his time and money over the years.

He’s almost 100 Years Old

Charlie Munger was born on January 1, 1924. That means he’s only 8 years away from his 100th birthday.   People kid that he’s Buffett’s older brother.

He only makes $100,000 per year

Charlie Munger makes the lowest possible form of six figures each year as his salary. It’s not much, and some might even say that it’s not even enough to live comfortably on, but he’s also got investments and other forms of income that make him a very, very wealthy man. He need not collect a large draw each year to make ends meet.   His partner, Warren Buffett, also takes a meager salary.

He’s a big benefactor for the University of Michigan

He might have taken his time getting back to school after a stint in the military, but he did get back and he did appreciate them taking him in. He’s made millions of dollars worth of donations to the school in the past. He gave the Law School $20 million to cover more than half the cost of a new Law School for a housing complex. He donated $3 million to the school for new lighting in the research building. He’s also given the school 10 shares of his Berkshire Hathaway stock.  Sounds like a little but not when each share is worth close to $200,000.

He donates for his wife, too

Charlie Munger’s wife is a woman he loves, and he supports her. She went to school at the Stanford University, where he is wife is an alumni. He donated shares of Berkshire Hathaway to the school in 2004 to help them build a new housing complex. The shares were worth an impressive $43 million. He’s certainly not a man who is afraid to give his money where he feels it will be put to good use.

He’s made the largest donation to the University of Michigan in History

Not only has he donated hundreds of millions of dollars to the college he attended, Charlie Munger is also the man who has made the largest single donation to the school in the history of donations to the school. He made a $110 million donation to build a housing development for those who have graduated and those who are willing to live together and exchange ideas.

He’s been married twice

Most people do not know that Charlie Munger has been married twice. He and his first wife have two living children together. One is a former corporate lawyer as well as a Stanford Trustee and the other is a civil rights attorney. He also has four children from his second marriage; one is a physicist and Republican. He also has two stepchildren from his wife’s former relationships.

He married two Nancy’s

We don’t know if Charlie Munger just loves the name or if it’s just a coincidence, but both his first and second wife are both Nancy. His first wife is Nancy Huggins. His second – and late – wife is Nancy Barry. She passed in 2010.

Photo by Getty Images

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