The 50 Wealthiest Angelenos: 38. Charles Munger

0

THE MONEY: Partner of Warren Buffett since they met at dinner party in 1959. Helped steer Berkshire Hathaway toward See’s Candies and other big companies. Vice chairman of $313 billion market-cap Berkshire, which holds railroad assets, manufacturing companies and retail businesses. Company spent $18 billion to purchase NV Energy and major interest in H.J. Heinz; increased its “big four” investments – American Express, Coca-Cola, IBM and Wells Fargo.

BUZZ: Berkshire Hathaway vice chairman’s wealth down a little bit as he continued to give away much of fortune. Donated 1,000 Berkshire Class A shares, worth more than $190 million, in past year. Recipients include University of Michigan at Ann Harbor, where he studied math as an undergrad; Huntington Library; and Harvard-Westlake School. Has 5,224 Berkshire shares; still takes $100,000 salary. Harvard Law alum sits on boards of Costco, Daily Journal, Blue Chip Stamps and Hospital of the Good Samaritan. Omaha, Neb., native joined Army during World War II. Donates to Republican campaigns.

NET WORTH:

$1.34 billion t4.7%

LAST YEAR: $1.41 billion

AGE: 90

RESIDENCE: Los Angeles

SOURCE OF WEALTH: Investments

No posts to display