Berkshire Hathaway’s new CEO, Greg Abel, is stepping into the spotlight not just as the successor to Warren Buffett but also as one of the highest-paid leaders in corporate America. According to a recent filing, Abel’s annual cash salary for 2026 will be $25 million, representing a 19 per cent increase over his 2024 pay. This new salary is a stark contrast to the modest $100,000 annual salary Buffett earned for decades while steering Berkshire to global prominence, according to a Bloomberg report.
Abel officially assumed the role of CEO on January 1, following Buffett’s retirement at age 95.
Before becoming CEO, Greg Abel spent eight years as Berkshire’s vice chairman, overseeing the company’s non-insurance operations. His rise within the conglomerate has been steady: Abel joined Berkshire in 1999 through the acquisition of MidAmerican Energy, later becoming CEO of what is now Berkshire Hathaway Energy in 2008. He was promoted to vice chairman in 2018, managing all non-insurance businesses.
Compensation History And Comparison
Abel’s compensation has grown steadily over the years. In 2023, he received $20 million, and in 2022, he earned a $16 million salary plus a $3 million bonus. The 2026 salary increase takes him past the $25 million mark in cash alone, although total compensation may include additional benefits. Berkshire’s vice chairman, Ajit Jain, who heads the insurance segment, received similar pay between 2022 and 2024, though 2025 figures are not yet disclosed, as per the report.
Despite Abel’s high salary, it remains modest compared to the astronomical pay packages common in tech today. For example, Tesla shareholders approved a $1 trillion compensation deal for Elon Musk last year. Meanwhile, Buffett’s modest salary did not limit his wealth; his net worth is around $150 billion, according to the Bloomberg Billionaires Index.
A Close Buffett Confidant
Born in Edmonton, Alberta, Canada, Abel has been a long-time aide to Buffett. He also owns about $171 million in Berkshire stock and sold his 1 per cent stake in Berkshire Hathaway Energy to Berkshire in 2022 for $870 million, as per the report. As CEO, Abel is now steering Berkshire Hathaway into a new era while commanding one of the top salaries for an S&P 500 executive.
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