Warren Buffett gives exec raise while his pay is to remain same
March 16, 2013, 12:06 am TWN
OMAHA, Nebraska -- Warren Buffett's total compensation declined 14 percent last year to US$423,923 as Berkshire Hathaway spent less on his security, but his salary remained unchanged at US$100,000.
Buffett's salary for leading Berkshire as chairman and chief executive hasn't changed in more than 25 years. The US$323,923 for security was the only other element of Buffett's 2012 compensation because the billionaire foregoes typical executive perks.
Buffett again paid Berkshire US$50,000 to reimburse the Omaha-based company for any personal costs.
The proxy statement Berkshire mailed to shareholders this week also showed that Chief Financial Officer Marc Hamburg is paid significantly more than Buffett. Hamburg's compensation grew 6 percent to just over US$1 million from 2011's US$974,750.