Charlie Munger, Warren Buffett's friend and business colleague, died at the age of 99

Warren Buffett's longtime friend and business partner Charlie Munger died. His age was 99.

Munger died “peacefully” at a California hospital on Tuesday morning, according to Berkshire Hathaway. A cause of death was unknown.

“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” CEO Warren Buffett stated.

Omaha's Charles Thomas Munger, known as “Charlie,” was born on January 1, 1924. After graduating from Michigan in 1943 at 19, Munger joined the US Army during World War II. After the war, Munger graduated with honors from Harvard Law School in 1948 and practiced real estate law in Southern California.

In 1959, Munger met Buffett at a dinner in Omaha following his father's funeral. Munger and Buffett became close friends.

Munger became a vice chairman of Berkshire Hathaway in 1978 and was best known as Buffett's wise-cracking lieutenant who gave blunt stock market and economic advise.