Berkshire Hathaway announced the passing of Charlie Munger, the billionaire and vice chairman of the company, as well as longtime partner of Warren Buffett. 

According to the press release, Munger, who was 99 at the time of his passing, died Tuesday morning.

"Berkshire Hathaway a few minutes ago was advised by members of Charlie Munger’s family that he peacefully died this morning at a California hospital," the company said in a press release.

Munger would have turned 100 on New Year’s Day.

"Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation," Buffett said in a statement.

The family will handle all affairs in accordance to Mungers's instructions, according to the release. 

In addition to being Berkshire's vice chairman, Munger was a real estate attorney, chairman and publisher of the Daily Journal Corp., a member of the Costco board, a philanthropist and an architect.