Berkshire Hathaway's Charlie Munger gives $40 million in stock to California museum
Investor Charlie Munger, Warren Buffett’s right-hand man for more than five decades, has made a $40 million gift to a California museum he has supported in the past
OMAHA, Neb. (AP) — Investor Charlie Munger, who's been Warren Buffett's right-hand man for more than five decades, has made a $40 million gift to a California museum that he's supported in the past.
Munger gave 77 Class A Berkshire Hathaway shares to the Henry E. Huntington Library and Art Museum in San Marino, California, according to a filing with the Securities and Exchange Commission. At Thursday's closing price of $523,545.06 a share, that made the gift worth more than $40.3 million.
A decade ago, he gave the Huntington museum nearly $33 million worth of Berkshire stock to help pay for a new education and visitors center. It wasn't immediately clear what the latest gift will be used for. A museum spokeswoman didn't immediately respond to a message Thursday afternoon.
Once a billionaire, Munger's fortune never rivaled his best friend Buffett's. But Munger lost his billionaire status long ago as he steadily gave away his fortune, and roughly $1 billion of his stock went into a charitable trust in 2010 after his wife died.
