Berkshire Hathaway’s newly appointed CEO receives a significantly larger salary compared to what Warren Buffett earned

Greg Abel Named Berkshire Hathaway CEO with $25 Million Salary

• Berkshire Hathaway has appointed Greg Abel as its new chief executive, granting him an annual salary of $25 million.
• This compensation marks a substantial rise compared to Warren Buffett’s well-known $100,000 yearly pay.
• Abel is anticipated to uphold the investment strategies that have defined Berkshire Hathaway’s approach.

Greg Abel, now leading Berkshire Hathaway, will receive $25 million per year—a notable increase from the compensation Warren Buffett received during his decades at the helm.

The company revealed Abel’s salary in a recent filing with the Securities and Exchange Commission. He officially stepped into the CEO position at the start of the year at the Omaha-based conglomerate.

Warren Buffett, who stepped down last year after more than half a century as CEO, famously limited his annual pay to $100,000 and declined both bonuses and stock awards. According to Bloomberg, Buffett’s fortune is estimated at $150 billion, making him the world’s tenth wealthiest individual.

As chairman and former CEO, Buffett played a key role in determining executive compensation, including his own and that of Abel and other top leaders.

Before becoming CEO, Abel served as Buffett’s deputy and earned $21 million last year. For comparison, the average CEO compensation among S&P 500 companies in 2024 was $18.9 million.

During last year’s annual shareholder gathering, Buffett, then 95, announced his retirement after 55 years in charge. The board promptly and unanimously selected Abel as his successor.

“I believe it’s time for Greg to take over as chief executive at the end of the year,” Buffett told shareholders at the meeting.

Abel, age 62, has been vice chair overseeing Berkshire Hathaway’s non-insurance businesses since 2018 and also leads Berkshire Hathaway Energy. Buffett previously described this energy division as one of the company’s four key assets in his 2021 shareholder letter, the same year he identified Abel as his eventual successor.

Shareholders expect Abel to continue Berkshire Hathaway’s established investment philosophy, though he is recognized for a more direct management style compared to Buffett.