page_title: Charlie Munger
section_title: Wealth and philanthropy
hierarchical_section_title: Charlie Munger / Wealth and philanthropy
caption_attribution_description: English: Munger Graduate Residences at Stanford University from the Wilbur Field side
context_page_description: Charles Thomas Munger is an American investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
context_section_description: As of March 2019, Munger has an estimated net worth of $1.6 billion according to Forbes Magazine.
  Munger is a major benefactor of the University of Michigan. In 2007, Munger made a $3 million gift to the University of Michigan Law School for lighting improvements in Hutchins Hall and the William W. Cook Legal Research Building, including the noted Reading Room. In 2011, Munger made another gift to the Law School, contributing $20 million for renovations to the Lawyers Club housing complex, which will cover the majority of the $39 million cost. The renovated portion of the Lawyers Club will be renamed the Charles T. Munger Residences in the Lawyers Club in his honor.
  In 1997, the Mungers donated $1.8 million to the Marlborough School in Los Angeles, of which Nancy Munger was an alumna. The couple also donated to the Polytechnic School in Pasadena and the Los Angeles YMCA.
  On December 28, 2011, Munger donated 10 shares of Berkshire Hathaway Class A stock (currently valued at $329,405 per share, or $3.29 million total) to the University of Michigan.
  Munger and his late wife Nancy B. Munger have been major benefactors of Stanford University. Nancy Munger was an alumna of Stanford, and Wendy Munger, Charlie Munger's daughter from a previous marriage, was also an alumna (A.B. 1972). Both Nancy and Wendy Munger served as members of the Stanford board of trustees. In 2004, the Mungers donated 500 shares of Berkshire Hathaway Class A stock, then valued at $43.5 million, to Stanford to build a graduate student housing complex.
  Munger has not signed The Giving Pledge that was started by his partner Warren Buffett and Co-Director, Bill Gates, and has stated that he "can't do it" because "[he has] already transferred so much to [his] children that [he has] already violated it."
caption: Munger Graduate Residence at Stanford University
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