Charlie Munger, Warren Buffett's right-hand man, spent $1,000 on oil royalties in 1962. He now receives 70 times that amount from them each year.
Munger placed his oil bet in 1962, after meeting a businessman named Al Marshall during a husband-and-wife golf tournament. At the third hole, Marshall outlined his plan to bid in a local oil-royalty auction. Munger responded, in characteristically blunt fashion, "You're doing it all wrong."
"I'm still getting $2,000 to $3,000 a month from that," Marshall told author Janet Lowe for her book, "Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger." Munger, a billionaire investor and Berkshire's 99-year-old vice chairman, relayed the story himself during Daily Journal's shareholder meeting in 2016.
Whether Munger is receiving $70,000, $100,000, or some other figure from the royalties each year, it's safe to say he's made a fortune from them over time.modest $100,000 salary
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Doyle's 3-run triple, Blackmon's three RBIs lead Rockies to 8-7 win over Blue JaysDENVER (AP) — Brenton Doyle hit a three-run triple in a four-run fifth inning, Charlie Blackmon had three hits and three RBIs on his bobblehead night, and the Colorado Rockies beat the Toronto Blue Jays 8-7 on Saturday.
Lire la suite »
Doyle's 3-run triple, Blackmon's three RBIs lead Rockies to 8-7 win over Blue JaysDENVER (AP) — Brenton Doyle hit a three-run triple in a four-run fifth inning, Charlie Blackmon had three hits and three RBIs on his bobblehead night, and the Colorado Rockies beat the Toronto Blue Jays 8-7 on Saturday.
Lire la suite »
Doyle's 3-run triple, Blackmon's three RBIs lead Rockies to 8-7 win over Blue JaysDENVER (AP) — Brenton Doyle hit a three-run triple in a four-run fifth inning, Charlie Blackmon had three hits and three RBIs on his bobblehead night, and the Colorado Rockies beat the Toronto Blue Jays 8-7 on Saturday.
Lire la suite »
Blue Jays blow 5-0 lead, lose 8-7 to lowly RockiesDENVER (AP) — Brenton Doyle hit a three-run triple in a four-run fifth inning, Charlie Blackmon had three hits and three RBIs on his bobblehead night, and the Colorado Rockies beat the Toronto Blue Jays 8-7 on Saturday.
Lire la suite »
Blue Jays blow 5-0 lead, lose 8-7 to lowly RockiesDENVER (AP) — Brenton Doyle hit a three-run triple in a four-run fifth inning, Charlie Blackmon had three hits and three RBIs on his bobblehead night, and the Colorado Rockies beat the Toronto Blue Jays 8-7 on Saturday.
Lire la suite »
Toronto Blue Jays squander big lead in loss to Colorado RockiesBrenton Doyle hit a three-run triple in a four-run fifth inning, Charlie Blackmon had three hits and three RBIs on his bobblehead night, and the Colorado Rockies beat the Toronto Blue Jays 8-7 on Saturday.
Lire la suite »