Net Worth: $3.1 B

LAST YEAR: 2.6

CHANGE: 19%

AGE: 99

RESIDENCE: Hancock Park

SOURCE OF WEALTH: Investments



THE MONEY: A friend and business partner of Warren Buffett for nearly 80 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’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. In December 2021, he purchased a home in Montecito for $11 million.



THE BUZZ: Munger’s philanthropic endeavors include donating $21 million to Good Samaritan Hospital in the Westlake district, where he served as chair 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. The Omaha, Nebraska, native served in the Army during World War II, earned a law degree from Harvard, and then moved his family to California. In 1962, Munger founded real estate law firm Munger, Tolles & Olson, and later formed investment firm Wheeler Munger & Co.