Renowned investor Charlie Munger, the late Vice Chairman of Berkshire Hathaway, held profound admiration for Singapore's founding father, Lee Kuan Yew, frequently citing him as "history's greatest nation builder." Munger's respect for the former Prime Minister was so significant that he kept a bust of Lee Kuan Yew in his home, a testament to his belief in the leader's unparalleled achievements. This sentiment was articulated in various public statements, including the Daily Journal Annual Meeting in 2021.
Munger's admiration stemmed from Lee Kuan Yew's ability to transform Singapore from what he described as "a malarial swamp with no army, no nothing" into a "gloriously prosperous place." According to Munger, Lee Kuan Yew's method was remarkably simple yet profoundly effective: "figure out what works and do it." He emphasized that while this principle sounds obvious, "most people don't do that" or "don't work that hard at figuring out what works and what doesn't."
Lee Kuan Yew served as Singapore's first Prime Minister from 1959 to 1990, overseeing a dramatic period of development. Under his leadership, Singapore, a small island nation with limited natural resources, achieved remarkable economic growth and social stability. His vision focused on attracting foreign investment, developing robust infrastructure, and implementing sound economic policies, transforming the city-state into a global financial hub.
The economic miracle of Singapore was built on principles such as a strong emphasis on education, a relentless fight against corruption, and long-term strategic planning. Lee Kuan Yew established key institutions like the Housing Development Board and the Economic Development Board, which were instrumental in providing housing and employment opportunities, and attracting multinational corporations. This pragmatic approach led to a significant increase in the nation's per capita GDP, showcasing a sustained period of prosperity.
Munger often highlighted that "there was hardly anything he touched he didn't improve," referencing Lee Kuan Yew's initiatives in healthcare and national savings systems. He regarded Lee Kuan Yew as one of the few individuals who ever lived with such a transformative impact. This deep respect from a figure like Munger underscores the enduring legacy of Lee Kuan Yew's leadership and his practical, results-oriented approach to governance.