Shares of Berkshire Hathaway barely budged on Wednesday, a day after its vice chairman, Charlie Munger, died, reflecting the view among shareholders that Mr. Munger’s absence on the conglomerate’s day to day would have little impact on its future, even as they mourned the loss of the man who helped shape Berkshire’s culture.
Mr. Munger, who helped build Berkshire into a global investing powerhouse, died at a California hospital on Tuesday morning, according to an announcement from Berkshire.
He was just over a month short of his 100th birthday.
Warren Buffett, the chairman and chief executive of Berkshire Hathaway, who built the company over decades with Mr. Munger’s steering, said it was his partner’s “inspiration, wisdom and participation” that had proved vital to Berkshire’s success.
“Berkshire Hathaway could not have been built to its present status without Charlie,” Mr. Buffett said.
Berkshire Hathaway, Charlie Munger, Munger, Warren Buffett, Charlie, ” Mr, Buffett