Buffett has a very low salary for a CEO
Reader comment on: Harvey Golub on Buffett
Submitted by Lyle (United States), Aug 22, 2011 16:17
According to the Berkshire Hathaway proxy, Buffet makes 100k from BRK, and 45 k from the washington post. Now Buffett further does not have a number of the excessive consumption expenses of a lot of CEOs i.e. no multiple homes and no 43k square foot home. Supposedly 98% of Buffets net worth is in Berkshire Hathaway stock, leaving him between 500 million and a billion outside. It is this extremely low salary (and bonus etc) for a CEO much like his buddy Bill Gates was paid when CEO of Microsoft. I.E. if you own the company a low salary is ok, since you have so much stock. Of course note that BRK does not pay a dividend. It appears that the major extravagance of Buffett is using NetJets. (Since he owns the company he does not need a private jet). Note the BRK pays 344k a year for security for Buffet also. (All in the BRK proxy statement).
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