Investor Charlie Munger, Warren Buffett’s right-hand man for more than five decades, has made a $40 million gift to a California museum he has supported in the past.
FILE - Berkshire Hathaway Vice Chairman Charlie Munger listens to a question during an interview, May 7, 2018, in Omaha, Neb., with Liz Claman on Fox Business Network's"Countdown to the Closing Bell." On Thursday, Oct. 5, 2023, Munger, who's been Warren Buffett's right-hand man for more than five decades, made a $40 million gift to a California museum that he's supported in the past.
A decade ago, he gave the Huntington museum nearly $33 million worth of Berkshire stock to help pay for a new education and visitors center. Huntington spokeswoman Susan Turner-Lowe said this latest donation will be used to build more than 30 residences for visiting scholars to use while they spend time at the museum doing research.
Once a billionaire, Munger's fortune never rivaled his best friend Buffett's. But Munger lost his billionaire status long ago as he steadily gave away his fortune, and roughly $1 billion of his stock went into a charitable trust in 2010 after his wife died. Munger, who is known for his quick wit and acerbic manner, will turn 100 in January. He often quips that “I have nothing more to add” after some of Buffett's more long winded answers at Berkshire's legendary shareholder meetings, but he'll also cut right to the heart of an issue in his own answers. For instance, he's called cryptocurrencies “evil” and “stupid because they're likely to go to zero” and are far too “useful to kidnappers and extortionists and so forth.
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Berkshire Hathaway's Charlie Munger gives $40 million in stock to California museumInvestor Charlie Munger, Warren Buffett’s right-hand man for more than five decades, has made a $40 million gift to a California museum he has supported in the past. Munger gave 77 Class A Berkshire Hathaway shares to the Henry E. Huntington Library and Art Museum in San Marino, California, according to a filing with the Securities and Exchange Commission. A decade ago, he gave the museum nearly $33 million worth of Berkshire stock to help pay for a new education and visitors center. It wasn’t immediately known what the latest gift will be used for. A museum spokeswoman didn’t immediately respond to a message Thursday afternoon.
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