Net Worth: $1.24 billion, down 15 percent
LAST YEAR: $1.46 billion
RESIDENCE: Los Angeles
SOURCE OF WEALTH: Investments
THE MONEY: Business partner of Warren Buffett since two met at dinner party in 1959; helped Buffett steer Berkshire Hathaway toward See’s Candies and other big companies. Now it holds railroad assets, numerous manufacturing companies, and retail businesses. Stock was flat this year, though Munger’s net worth decreased after huge donation.
THE BUZZ: Public holdings in Berkshire and Costco Wholesale Corp. were flat. Daily Journal Corp. chairman; decision to sink some $15 million in company cash into securities in 2009 continues to pay off. Charitable contributions chipping away chunks of fortune. Followed up $65 million gift to UC Santa Barbara in 2014 with $200 million donation in March. Both were largest in university history at time they were made. Munger now holds more than 4,900 Berkshire “Class A” shares and still takes $100,000 salary. Harvard law alum also sits on the boards of Costco and Hospital of the Good Samaritan. Omaha, Neb., native joined Army during World War II. Long been associated with contributions to Republican political candidates.
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