Wealthiest Angelenos: 42, Charlie Munger

0

NET WORTH: $1.46 billion, up 22 percent

LAST YEAR: $1.34 billion

AGE: 91

RESIDENCE: Los Angeles

SOURCE OF WEALTH: Investments

THE MONEY: Partner of Warren Buffett since pair met at a dinner party in 1959. Guided Buffett to See’s Candies and other big companies. Investments in Costco and Daily Journal performed well in past year.

BUZZ: Berkshire Hathaway vice chairman’s wealth grew as Berkshire and Daily Journal perform well. Continues to give away fortune. Donated $65 million to UC Santa Barbara physics institute last year to fund housing facility. Money came from sale of 320 Berkshire Class A shares. Donation was largest in university’s history. Stake Berkshire now 4,904 shares; still takes $100,000 salary. Attributed “good luck” as one of four factors behind Berkshire’s success in letter to shareholders this year. Harvard Law alum sits on the 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.

No posts to display