Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, paid heartfelt tribute to his longtime partner Charlie Munger in the company’s 2023 fiscal year annual report. Munger, often described as the architect of Berkshire Hathaway, passed away in November last year, just weeks before his 100th birthday.
In his annual letter to shareholders, Buffett shared his fond memories of Munger, highlighting their decades-long partnership and the pivotal role Munger played in shaping the direction of Berkshire Hathaway. Describing Munger as the “architect” of the company, Buffett emphasized the significant impact Munger had on the growth and success of Berkshire Hathaway.
Their partnership began in the 1960s when Munger advised Buffett to focus on acquiring great businesses at fair prices, a strategy that would ultimately lead to the creation of the conglomerate that Berkshire Hathaway is today. Buffett credits Munger with guiding him through key decisions and helping to elevate the company to new heights over the years.
Despite Munger’s humble nature and reluctance to seek recognition, Buffett emphasized the importance of acknowledging Munger’s role in Berkshire Hathaway’s success. In Buffett’s words, “Charlie should always be considered the architect” of the company, while he himself played the role of the “general contractor,” bringing Munger’s vision to fruition.
As Buffett reflected on their partnership and the impact Munger had on his life and career, he expressed gratitude for the guidance and wisdom that Munger provided over the years. With Munger’s passing, Buffett is determined to carry on their shared vision and continue building on the foundation that Munger helped to establish.
The legacy of Charlie Munger as the “architect” of Berkshire Hathaway will forever be remembered and cherished by Buffett and shareholders alike, marking a fitting tribute to a man whose influence shaped one of the most successful companies in history.