OMAHA, Neb. (KMTV) — Omaha City Council Member Brinker Harding described Charlie Munger as a 'true Omaha icon'.
KMTV learned Tuesday afternoon that Omaha native Charlie Munger had passed away at the age of 99.
Munger was introduced to Warren Buffett through a mutual business partner in 1959 and he eventually became vice president at Berkshire Hathaway in 1978.
“Berkshire Hathaway’s positive impact on the City of Omaha cannot be overstated. Charlie Munger was part of the magic that made it all possible. His wit and insight at the annual meeting in Omaha every year was legendary,” said Pete Festersen, president Omaha City Council.
"Mr. Munger was a savvy investor, generous philanthropist and philosopher of sorts, and one of my favorite quotes he is associated with is 'the first rule of fishing is to fish where the fish are'," Harding said.
Buffett has credited Munger with helping him change his investment strategy from buying undervalued companies in distress to purchasing stronger ones with opportunity to grow.
Warren Buffett released a statement through Berkshire Hathaway on Munger’s death.
"Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation," Buffett said in a statement.
Omaha Mayor Jean Stothert:
"Charlie Munger and Warren Buffett complimented each other. Together, they built Berkshire Hathaway into a Fortune 500 company practicing simple principles of business leadership - trust, respect and integrity, which made them successful friends and partners," said Mayor Jean Stothert. "Charlie will be remembered as generous with his advice, knowledge and philanthropy."
Rep. Don Bacon:
“Charlie Munger and Warren Buffet built a great economic empire that has benefited a tremendous number of citizens and is a point of pride for Nebraskans. Charlie was a ‘force’ in helping to build Berkshire Hathaway to the international conglomerate that it is. He was a relatable man who, along with Warren would spend time answering questions at each Berkshire annual meeting in Omaha. We send our condolences to the family and friends of Mr Munger."
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