"Berkshire Hathaway has formally drawn a line under one of corporate America's most famous pay traditions, ending the $100,000 annual salary paid to Warren Buffett for more than four decades. Greg Abel, who took over as chief executive on January 1, will receive an annual pay package of $25 million, a sharp break from the frugal compensation model that long defined the Omaha-based investment giant. Abel, 63, had already been one of the highest-paid executives at Berkshire before stepping into the top job."
"Abel is also heavily invested in the business. He owns roughly $171 million worth of Berkshire stock and, in 2022, sold his 1 per cent stake in Berkshire Hathaway Energy back to the group for $870 million, further cementing his long-term alignment with shareholders. Buffett has long been vocal about executive pay, repeatedly warning against what he described as "irrational" compensation systems. While he has said he has no objection to paying generously for"
Berkshire Hathaway ended the $100,000 annual salary paid to Warren Buffett for more than four decades. Greg Abel became chief executive on January 1 and will receive an annual pay package of $25 million, replacing the frugal compensation model. Abel earned $21 million in 2024 as vice-chairman and owned roughly $171 million in Berkshire stock; he previously sold a 1 per cent stake in Berkshire Hathaway Energy back to the group for $870 million. Buffett, 95, remains chairman and retains more than a third of Class A shares, with an estimated net worth around $150 billion. Berkshire's market value compounded nearly 20% annually since 1965.
Read at Business Matters
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