Net Worth: $1.6 billion
Source of Wealth: Investing
Residence: Los Angeles
He is the quiet man behind Warren Buffett.
A Harvard-educated lawyer, Munger was an early associate of the legendary investor, and now serves as vice chairman of Berkshire Hathaway, the Omaha-based investment company headed by Buffett.
But while Buffett usually has a few good quotes for the press, Munger is an intensely private man who shuns publicity and generally does not give interviews.
Nonetheless, Munger's enterprises are extensive and successful, especially in L.A. He is nameplate partner in the downtown law firm Munger Tolles & Olson, and owns a 36 percent stake in Daily Journal Corp., which has 18 publications, including the Los Angeles Daily Journal and San Francisco Daily Journal both legal newspapers.
Munger's wealth has been enhanced over the last year by Daily Journal's strong stock-market performance.
The publishing company, which ranked fifth on the Business Journal's list of most profitable public companies in Los Angeles, has seen its share price rise around 35 percent since early 1997.
For someone who is among L.A.'s wealthiest, Munger has some strong views on excessive executive pay. At the recent Berkshire Hathaway shareholder meeting, Munger said, "As for the corporate consultants who advise on salary, all I can say is that prostitution would be a step up for them."
He is married and has eight children.
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