"Buffett, who retired last year, famously took an annual salary of $100,000 with no bonus or stock awards for over 40 years. Bloomberg estimates his net worth at $150 billion, the tenth-richest person in the world. As Berkshire Hathaway's former CEO and current chairman, Buffett recommended to his board of directors how much he should be paid and set compensation for Abel and other executives."
"Abel, 62, has been Berkshire Hathaway's vice chair of non-insurance operations since 2018. He's also chair of Berkshire Hathaway Energy, which Buffett hailed as one of the conglomerate's four "jewels" in his annual shareholder letter in 2021, the same year Buffett first tapped Abel as his successor. Investors expect Abel to maintain the company's current investment philosophy. He is known for having a more hands-on leadership style than Buffett."
Berkshire Hathaway will pay Greg Abel $25 million annually as its CEO, disclosed in a Securities and Exchange Commission filing. Abel assumed the role on January 1 after Buffett's retirement. Warren Buffett previously earned an annual salary of $100,000 with no bonus or stock awards for over 40 years. Buffett recommended his own pay and set compensation for executives including Abel. Abel earned $21 million last year, while the average S&P 500 CEO compensation was $18.9 million in 2024. Abel has led non-insurance operations since 2018 and chairs Berkshire Hathaway Energy. Investors expect him to maintain the firm's investment philosophy, though he is considered more hands-on than Buffett.
Read at Business Insider
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