Berkshire Hathaway’s new CEO, Greg Abel, stepped into the role on January 1. Now a new regulatory filing shows that the chief executive will earn an annual cash salary of $25 million this year, a 19% increase from the $21 million he received in 2024 as vice chairman overseeing Berkshire’s non-insurance businesses. 

The compensation, disclosed in a filing with the U.S. Securities and Exchange Commission on Tuesday, marks a break from the practice of Abel’s predecessor, Warren Buffett, who famously took a modest $100,000 annual salary for over 40 years.

Buffett is the largest individual shareholder of Berkshire stock, owning about 36.4% of the company’s Class A shares, according to a June 2025 filing. He did not take bonuses or stock grants as CEO, asserting that his massive personal stake in Berkshire stock already aligned his goals with those of shareholders. At the time of writing, he is the 10th-richest person in the world, with a net worth of $150 billion tied primarily to Berkshire stock. 

Abel’s $25 million cash pay eclipses Buffett’s $100,000 annual salary, even though Berkshire has grown into a larger and more complex organization under Buffett. The move places Abel’s pay well above the median compensation for S&P 500 CEOs, which was roughly $18.9 million in 2024. 

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Abel’s elevation to CEO reflects decades of operational experience inside Berkshire, especially through Berkshire Hathaway Energy, which he helped turn into one of the largest U.S. power providers. 

He joined Berkshire in 2000 through its acquisition of MidAmerican Energy. Since 2018, he has taken on the role of vice chairman of non-insurance operations, with broad oversight of businesses from railroads to industrials. 

Buffett has publicly endorsed Abel. In a Thanksgiving letter to shareholders last year, Buffett praised Abel as “a very fast learner” and said the executive was well-equipped to handle running Berkshire. 

“I can’t think of a CEO, a management consultant, an academic, a member of government — you name it — that I would select over Greg to handle your savings and mine,” Buffett wrote.

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Buffett announced last year at Berkshire’s annual shareholder meeting that he would be stepping down as CEO after 55 years serving in the role. In a matter of hours, the board unanimously voted for Abel to replace him. Buffett is staying on as chair of Berkshire’s board. 

Though Abel’s pay is higher than the norm, it still isn’t the highest in the industry. In November, Tesla shareholders approved a record-breaking $1 trillion compensation plan for CEO Elon Musk, which requires Musk to meet certain milestones to unlock the pay. 

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