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Greg Abel stepped into the role of Chief Executive Officer (CEO) of Berkshire Hathaway on January 1, 2025.
He succeeded Warren Buffett, who is known for his successful investment strategies and leadership of the conglomerate.
With his new position, Abel's annual cash salary has risen to $25 million. This increase took effect on the same day he became CEO, January 1, 2025.
Prior to this promotion, Abel earned a salary of $21 million in 2024 along with an additional $17,250 categorized as "other compensation," according to a regulatory filing with the U.S. Securities and Exchange Commission.
Warren Buffett, who led Berkshire Hathaway for many years, had an annual salary of $100,000 in 2024, along with $305,111 in "other compensation."
Despite stepping down, Buffett continues to support Abel's leadership. He expressed confidence in Abel during an interview, stating that he would rather have Abel manage his money than any of the top investment advisers or CEOs in the United States.
As Greg Abel takes charge of Berkshire Hathaway, his salary increase reflects the trust placed in him by Buffett and the company's board.
Abel's experience as vice chairman of the company's non-insurance operations has prepared him for this new challenge. Investors will be watching closely to see how he steers the company in the future.
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