Berkshire Hathaway hikes salary of CEO Greg Abel, Warren Buffett’s successor, to $25M
Berkshire Hathaway Appoints Greg Abel as New CEO
Berkshire Hathaway announced that Greg Abel, the new Chief Executive, will be receiving a salary of $25 million, a significant increase from the $100,000 annual salary that Warren Buffett, his predecessor, accepted for over 40 years.
Abel, 63, took over as CEO on Jan. 1, following eight years as the vice chairman responsible for overseeing Berkshire’s non-insurance businesses.
Under Buffett’s guidance, Abel’s compensation package included a $21 million salary in 2024, a $20 million salary in 2023, and a $16 million salary with a $3 million bonus in 2022.
Vice Chairman Ajit Jain, who oversees Berkshire’s insurance businesses, received a similar compensation package from 2022 to 2024. The compensation for both Abel and Jain for 2025 has not been disclosed yet.
Warren Buffett, 95, led Berkshire Hathaway for over six decades, transforming it into a conglomerate with a market value exceeding $1 trillion. The company includes businesses like Geico car insurance, BNSF railroad, and various other insurance, energy, manufacturing, and retail operations.
Buffett continues to serve as Berkshire’s chairman and remains one of the wealthiest individuals globally. Berkshire’s executive compensation program has been described as unique compared to most public companies in regulatory filings.
Abel also holds approximately $171 million worth of Berkshire stock and, in 2022, sold his 1% stake in Berkshire Hathaway Energy to the company for $870 million.
