February 10, 2012

One of the Mansions In Charlie Munger’s Secret “Mungerville” Up for Sale

September 4, 2010 By Joshua Kennon Leave a Comment

Given that I wrote about Charlie Munger so much this week (re-reading part of his biography caused him to be on my mind), I thought this was interesting …

Years ago, through a tiny property subsidiary called MS Properties (or something along those lines), that is a subsidiary of Wesco Financial Corporation, that is a subsidiary of Berkshire Hathaway, Charlie Munger decided to secretly develop a tiny bit of Southern California as a creative outlet. His friends called this “Mungerville” but to the public, it is the Sea Meadow development in Montecito, California.

Anyway, one of the houses in the development is now up for sale for just shy of $26,000,000 and it is beautiful. I wonder if the people in there have any idea their neighborhood exists because a very wise man wanted to create something and used the spare change around a Berkshire subsidiary to do it.

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Filed Under: Real Estate Tagged With: Berkshire Hathaway, Charlie Munger, Real Estate, Wesco Financial Corp

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