Inside the 40-year business partnership of Warren Buffett and Charlie Munger, who both started out working in the same grocery store and reportedly haven’t had a fight in 60 years

Charlie Munger, left, and Warren Buffett, right, have been partners at Berkshire Hathaway for just over 40 years.

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Charlie Munger, left, and Warren Buffett, right, have been partners at Berkshire Hathaway for just over 40 years.
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David Silverman/Getty Images

Warren Buffett and Charlie Munger never fight.

The pair discussed their working relationship on CNBC in 2018, but their partnership predates this interview by several decades.

With Buffett as Chairman and CEO and Munger as Vice Chairman, the two have run holding company Berkshire Hathaway together since 1978. The company is the world’s fourth-largest public company, and has made Buffett the third-richest man in the world with an estimated net worth of $83.1 billion. Read more: Warren Buffett is the world’s third-richest man – see how the notoriously frugal billionaire spends his fortune

The duo met at a dinner party in their hometown of Omaha, Nebraska, where the two found much in common, including a sense of humor and the fact that they both worked for Buffett’s grandfather at the town supermarket as teenagers. “The main thing we learned from the grocery store is we didn’t want to work in a grocery store,” Buffett told CNBC.

Keep reading for a look through Buffett and Munger’s careers together, from their first days at Berkshire Hathaway to the company’s 50th anniversary.


Warren Buffett and Charlie Munger have worked together for 41 years at Buffett’s holding company, Berkshire Hathaway.

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Buffett, left, and Munger, right, at the company’s annual Omaha meeting last year.
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REUTERS/Rick Wilking

Source: CNBC


Together, the two have achieved success and respect in the business world.

Charlie Munger, left, and Warren Buffett, right, have been partners at Berkshire Hathaway for just over 40 years.

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David Silverman/Getty Images

Both billionaires hail from Omaha, Nebraska …

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Shutterstock

Source: Omaha World-Herald


… where the company headquarters remain today.

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Berkshire Hathaway offices have inhabited the Kiewit Plaza building since 1962.

Source: Business Insider


Among other household names, Berkshire Hathaway wholly owns companies like Dairy Queen and Pampered Chef, along with having notable minority holdings with companies such as Apple and the Kraft Heinz Company.

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Flickr/m01229

Source: Berkshire Hathaway Inc.


Warren Buffett, hailed as the “Oracle of Omaha,” notably started investing early, buying his first stock when he was 11 years old and accruing a small fortune from business ventures by the time he was a teenager. His pursuits included operating a successful pinball machine business in local barbershops, delivering newspapers, and washing cars.

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REUTERS/Rick Wilking

Source: Business Insider


After attending Columbia’s School of Business, Buffett returned to Omaha, then moved back to New York to work for his mentor, Benjamin Graham.

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The library at Columbia University in New York.
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meunierd/Shutterstock

Source: Business Insider


When Graham closed his firm in 1956, Buffett moved back home to Omaha and started Buffett Partnership Ltd. This quickly turned to seven partnerships, which led him to become a millionaire by age 32.

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KMTV Omaha/Jeremy Harris Lipschultz/YouTube

Source: Business Insider


He merged these partnerships in 1962 and invested in a textile-manufacturing firm called Berkshire Hathaway. In the late 60s, he pivoted the company from textiles to insurance, and he still leads it today.

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BloombergTV

Source: Business Insider


Buffett would eventually join forces with Charlie Munger, commonly referred to as his “right-hand man.”

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Eric Francis/Getty Images

Source: Forbes


The pair were introduced by a mutual contact in 1959 in Omaha, where they dined with their wives at Johnny’s Cafe.

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Google Maps

Source: Google Maps, Omaha World-Herald


Along with enjoying each other’s sense of humor, the men learned they both worked for Buffett’s grandfather at his grocery store as teenagers. Though the two worked at the same store, they had never crossed paths, as Munger is seven years Buffett’s senior.

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Open Grid Scheduler/Flickr

Source: Omaha World-Herald, CNBC


A lawyer by trade and an architect on the side, Charlie Munger has worked for Berkshire Hathaway since the late 1970s.

Source: CNBC


Previously, Munger excelled at Harvard Law School …

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Harvard Law School’s Langdell Hall.
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Darren McCollester/Stringer/Getty Images

Source: Forbes


… and even co-founded his own law firm — Munger, Tolles & Olson LLP —which still exists today. Buffett convinced Munger to leave the practice as he felt it did not utilize his full talents.

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Munger Tolles & Olson/Wikimedia Commons

Source: CNBC


Over a decade later, Buffett convinced Munger to leave his second company, an investment practice called Wheeler, Munger & Co. In 1978, he became Vice Chairman of Berkshire Hathaway, where the two have worked side-by-side ever since.

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Buffett and Munger with fellow investors Peter and Paul Hilal in 1998.
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FrankTursetta/Wikimedia Commons

Source: CNBC


Alongside his duties as vice chairman of Berkshire Hathaway, Munger is also a chairman of Daily Journal Corp. and a board member of Costco.

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Justin Sullivan/Getty Images

Source: Forbes


Today, Munger has an estimated net worth of $1.6 billion.

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REUTERS/Rick Wilking

Source: Forbes


After almost half a century of joined partnership, the two men remain the faces of Berkshire Hathaway, adding a personal element to the holdings company.

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A welcome sign in 2013 at the company headquarters showed Buffett and Munger in their younger years.
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REUTERS/Rick Wilking

Source: Reuters


The pair’s faces are often used by their subsidiary companies, such as Heinz …

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Kraft Heinz company is one of Berkshire Hathaway’s companies.
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REUTERS/Rick Wilking

Source: Reuters


… and Coca-Cola.

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REUTERS/Rick Wilking

Source: Reuters


Their faces were especially popular at Berkshire Hathaway’s 50th anniversary in 2015, which was held in Omaha as always.

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Caricatures of Buffett and Munger.
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Anonymous

Source: Reuters


Though Munger is 95 and and Buffett is 88, neither has announced plans to retire in the near future.

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REUTERS/Rick Wilking

Source: U.S. News & World Report