Berkshire’s Greg Abel gets 19% pay rise in first year as CEO

Berkshire Hathaway has raised the annual salary of its new chief executive, Greg Abel, to $25 million as he steps into the top role at the conglomerate built by Warren Buffett.

Abel, who assumed the chief executive position on January 1, received the pay increase with immediate effect, the company disclosed in a filing with the US Securities and Exchange Commission on Tuesday. Reuters reported that the figure refers to Abel’s annual cash salary.

The move underscores Berkshire’s effort to formalise the transition from Buffett, who has led the company for decades and remains its public face. Abel has long been identified as Buffett’s successor and has taken on increasing responsibility in recent years.

Buffett has publicly endorsed Abel’s leadership. Speaking to CNBC’s Becky Quick in May, Buffett said he would rather have Abel manage his money “than any of the top investment advisers or any of the top CEOs in the United States,” calling the succession decision a deliberate and confident choice.

Before becoming chief executive, Abel served as vice chairman overseeing Berkshire’s non-insurance businesses, which include energy, railroads and manufacturing. In that role, he earned a salary of $21 million in 2024, along with $17,250 in other compensation, according to a 2025 regulatory filing cited by Reuters.

The contrast with Buffett’s own pay has long been striking. In 2024, Buffett earned an annual salary of $100,000, supplemented by $305,111 in other compensation, reflecting his longstanding stance against outsized executive pay.

While Abel’s compensation is modest by the standards of some large US corporations, the increase signals Berkshire’s recognition of the scale and complexity of the role he now occupies. As Abel settles into the position, investors will be watching closely to see how he balances continuity with change at one of the world’s most closely followed conglomerates.