Founder of Himalaya Capital — a Tiananmen student leader who became the only outside manager Charlie Munger entrusted with his money.
Life story
Li Lu was born in Tangshan, China, in 1966. During the Cultural Revolution his parents were sent to labor camps, and he grew up passing through several orphanages and caretakers. In 1976 he survived the Tangshan earthquake, one of the deadliest in recorded history.
In 1985 he entered Nanjing University to study physics, later switching to economics. He was a student leader in the 1989 Tiananmen Square protests and took part in the hunger strike. After the crackdown he fled to France and then, at 23, to New York. He told his story in "Moving the Mountain" (1990).
How they got started
In New York he studied at three Columbia schools at once, becoming in 1996 one of the first to earn a BA in economics, an MBA and a JD simultaneously. Inspired by Warren Buffett's 1993 lecture at Columbia, he began investing as a student.
He worked at Donaldson, Lufkin & Jenrette in 1996 and founded Himalaya Capital in 1997. Charlie Munger became an investor, mentor and close friend, calling him the "Chinese Warren Buffett" and saying Li Lu was the only outside manager he ever invested with.
Investment style
Himalaya follows Graham, Buffett and Munger: it buys high-quality companies with durable competitive advantages and holds some for over 20 years. It waits for the "fat pitch," avoids overtrading and keeps capital ready to act decisively.
Himalaya invests in public companies in Asia and North America, so its portfolio mixes Chinese companies and US stocks.
Best decisions
BYD
Li Lu introduced Chinese battery and EV maker BYD to Munger and Buffett. In September 2008 Berkshire Hathaway bought about 9.9% of BYD for roughly $230M (Buffett credited Munger), and by its full exit in 2025 the stake had returned about 3,890%. Li Lu's partnership also owns a stake in BYD.
Munger's trust
Munger entrusted his family's money to Li Lu and to no other outside manager — the highest endorsement he could give.
Biggest mistakes
Limited information
Li Lu runs a closed partnership and speaks publicly rarely; we found no reliable public account of specific failed investments.
Today
In 2026 Li Lu is 60 and remains founder and chairman of Himalaya, based in Seattle and generally closed to new partners. He co-founded The Asian American Foundation in 2021 and chairs its board, and was elected to the American Academy of Arts and Sciences in 2020.
What to learn from following the portfolio
- Himalaya's portfolio is highly concentrated and changes rarely — every new position is a carefully considered decision.
- The 13F shows only US-listed stocks; Himalaya's Asian holdings (e.g. in Hong Kong) are often invisible.
- Any banks or financials in the portfolio are usually not halal, while technology and industrial names may be. See each position's halal status on the Portfolio tab.
- 13F filings lag by 45 days — rather than copying, try to understand why he chose a company.
An introduction based on public sources — not investment advice. Spotted an error? Let us know.