Berkshire’s Abel to Get 19% Salary Bump in First Year as CEO

Group 1 - Berkshire Hathaway Inc. CEO Greg Abel will receive an annual cash salary of $25 million, significantly higher than Warren Buffett's long-standing salary of $100,000 [1] - Abel's salary represents a 19% increase from his previous salary of $21 million in 2024, with total compensation slightly higher due to additional benefits [3] - Buffett, who is 95 years old, announced that he would step down as CEO in January, while continuing to serve as chairman of the company [2] Group 2 - Abel is responsible for managing Berkshire Hathaway's substantial cash reserves, which amount to $382 billion [3] - Despite Abel's increased salary, it remains modest compared to the compensation packages of tech executives, such as Elon Musk's $1 trillion package approved by Tesla shareholders [5] - Abel has been with Berkshire Hathaway since 1999 and has held various leadership roles, including CEO of Berkshire Hathaway Energy and vice chairman overseeing non-insurance businesses [6]