It is a sad time for shareholders of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), and the global investment community at large. Warren Buffett's longtime business partner Charlie Munger passed away on Nov. 28, 2023, nearly a month before reaching 100 years of age.

Buffett and Munger both have expressed confidence that the investment conglomerate they helped build will be an empire built to last. Just a week prior to Munger's passing, Buffett said as much in a letter outlining his annual charitable giving pledges:

Berkshire – one of the largest and most diversified companies in the world – will inevitably encounter human errors in judgment and behavior. These occur at all large organizations, public or private. But these mistakes are unlikely to be serious at Berkshire and will be acknowledged and corrected. We have the right CEO to succeed me and the right Board of Directors as well. Both are needed.

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Source Fool.com