Charlie Munger pockets $70,000 a year from a $1,000 investment he made in 1962 - and has likely raked in over $1 million in total

• Charlie Munger receives $70,000 a year from a $1,000 purchase he made over 60 years ago.
• Warren Buffett's right-hand man has likely made over $1 million from oil royalties bought in 1962.
• Buffett's father also bought oil royalties, and the investor's sister still receives monthly checks.

Charlie Munger rakes in $70,000 a year from a $1,000 investment he made six decades ago — and has likely collected over $1 million in total from the lucrative wager.

Warren Buffett's business partner disclosed the initial cost of his oil royalties, and what they yield today, during Berkshire Hathaway's annual shareholder meeting on Saturday.