Charlie Munger Dies At 99

[Economy 52,843]

https://www.google.ca/amp/s/www.cbc.ca/amp/1.7043302

 

Would have thought this would be posted by now. 

Billionaire investor and Warren Buffets right hand died at age 99

 

He had 9 children throughout his life and was known to live modestly on a relative basis and lived in the same house he bought in late 20s for 70 years

[Economy 52,843]

I lowkey find ultra wealthy who live modestly in some ways even more problematic than those who splurhe. Their money doesnt get spent back into economy its just hoarded

 

Dont get the point of being ultra successfull if u just wanna life frugaly anyway. Then what is even the point? At least if u flaunt it that wealth is making 1 persom enjoy it and leaks back into economy but when u hoard all of it, nothing gets done with that money

 

I know there was a degree of philantropy (more than buffet) but still. This is giving vibes of:

 

[Pablo 8,577]

I also don't understand the ultra wealthy living so modestly, both Warren and Charlie live/lived that way.

[Debithius 6,056]

So now we have problems with people who spend tons of money and people who doesn't? 

[Lucas 31,101]

56 minutes ago, Debithius said:

So now we have problems with people who spend tons of money and people who doesn't? 

The problem is with people who own a lot of money period

[Debithius 6,056]

57 minutes ago, Lucas said:

The problem is with people who own a lot of money period

Then don't give them the money

[Lucas 31,101]

48 minutes ago, Debithius said:

Then don't give them the money

[heygurlhi 3,200]

k bye

[Economy 52,843]

2 hours ago, Lucas said:

The problem is with people who own a lot of money period

Although im reading more about him...

 

Maybe not so much the case with Warren Buffet, but Charlie was more asset rich and more cash poor (relatively speaking)

 

His company he helped found grew a lot so a lot of the value was just owning the company. He did not hoard a tone of cash he made of it and gave much of it away.

 

I can accept not selling off a successful company u helped build if u wanna still own enough shares in it to have a strong say in what happens in it, and if u sell off those assets u loose control of ur own company

 

Still a problem that the system allows such disproportionate wealth. But as an individual, its a more acceptable/respectable situation than I thought

[Economy 52,843]

3 hours ago, Debithius said:

So now we have problems with people who spend tons of money and people who doesn't? 

If u hoard it. I think thats even worse yes

 

But it seems like Charlie didnt hoard that much cash, he lived modestly and gave much of what he made away to charaties. His billionaire "net worth" was more a result of the value of the company shares he owned themselves i didnt realize that at first