Berkshire Hathaway has raised the annual pay of its new chief executive, Greg Abel, to $25 million as the company enters a new leadership era following decades under Warren Buffett.
The pay increase, disclosed Tuesday in a regulatory filing, took effect Jan. 1, the same day Abel officially became CEO.
Abel, 63, replaced Buffett, who led the Omaha-based conglomerate for more than 60 years.
The move marks a major shift for Berkshire, as Buffett famously accepted a modest annual salary of $100,000 for over four decades while building the company into a business valued at more than $1 trillion.
Before becoming CEO, Abel spent eight years as vice chairman overseeing Berkshire's non-insurance businesses.
During that time, his pay steadily increased. He earned a $21 million salary in 2024, $20 million in 2023, and $16 million plus a $3 million bonus in 2022. His compensation during those years was set by Buffett himself, NY Post reported.
Berkshire Vice Chairman Ajit Jain, who oversees the company's insurance operations, received the same compensation as Abel from 2022 through 2024.
The company has not yet disclosed pay details for either executive for 2025 beyond Abel's new salary.
Berkshire Hathaway hikes salary of CEO Greg Abel, Warren Buffett’s successor, to $25M https://t.co/UL2YO8kl15 pic.twitter.com/QnDr00jRWq
— New York Post (@nypost) January 7, 2026
Read more: Warren Buffett Pens Final Shareholder Letter as Greg Abel Prepares to Take Over Berkshire Hathaway
Berkshire Focuses on Long-Term Performance
Buffett, now 95, remains chairman of Berkshire Hathaway and continues to play a visible role in the company.
He has openly praised Abel as his successor, once telling CNBC that he would trust Abel with his own money more than "any of the top investment advisers or any of the top CEOs in the United States." He added, "It is a huge endorsement, but it's an endorsement we've made."
Under Buffett's leadership, Berkshire developed a reputation for doing things differently, including its approach to executive pay.
The company has said in past filings that its compensation program is "different" from most public companies, focusing on long-term performance rather than short-term rewards.
Abel already has significant financial ties to the company. He owns about $171 million worth of Berkshire stock.
In 2022, he also sold his 1% stake in Berkshire Hathaway Energy back to the company for $870 million, further cementing his long-term connection to the business.
Berkshire Hathaway owns nearly 200 businesses, including Geico car insurance, BNSF Railway, and a wide range of energy, manufacturing, retail, and insurance operations.
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