Net Worth: $2.6 B

LAST YEAR: $2.4 B
CHANGE: 8.3%
AGE: 98
RESIDENCE: Hancock Park
SOURCE OF WEALTH: Investments

THE MONEY: A friend and business partner of Warren Buffett for nearly 60 years, Munger continues to serve as vice chairman at Berkshire Hathaway Inc., a holding company for a wide range of businesses. In 1972, he helped point the company toward See’s Candy Shops Inc., which is considered one of the investment giant’s most important acquisitions. Munger also sits on the board of Costco Wholesale Corp. Munger is the former chairman of downtown-based Daily Journal Corp., whose newspapers and websites cover the legal industry in California and Arizona. Munger’s wealth grew this year as a result of the performance of Berkshire Hathaway and Costco shares. Munger also has an undisclosed amount invested in Afton Properties, an L.A. owner of apartment buildings, as well as in Stonehouse Corp., an Australian investment firm similar to Berkshire Hathaway.

THE BUZZ: Munger’s philanthropic endeavors include donating $21 million to Good Samaritan Hospital in the Westlake district, where he served as chairman for more than 30 years, and giving hundreds of millions of dollars to public colleges including the University of Michigan and the University of California, Santa Barbara.