Warren Buffett followers contemplate Berkshire Hathaway without Charlie Munger

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For years, as Berkshire Hathaway climbed towards its $780bn valuation, investors wondered what would happen when Warren Buffett or Charlie Munger, the nonagenarians who personified the sprawling conglomerate, died.

Article originally published by The Financial Times. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

30 Nov 2023

The market response to Munger’s death was the kind of reaction that the two men, who spent more than a decade priming investors for their eventual departures, had long wanted.

“If I die tonight, I think the stock would go up tomorrow,” Buffett, 93, quipped at the company’s annual meeting in 2017.

On Wednesday, the first trading day after Munger died, Berkshire Hathaway’s shares fell just half a percentage point, only marginally lagging the broader US market.

Munger helped draw up the principles on which the company’s next generation of leaders have been trained. This has reassured investors that Berkshire can survive the loss of either man, but Munger’s absence will still be felt deeply within Berkshire.

The Omaha native helped transform the company, once a struggling textile maker, into an industrials and insurance