OMAHA, Neb. – Warren Buffett’s compensation from Berkshire Hathaway Inc. rose 15 per cent last year to $485,606, although the billionaire’s salary remained $100,000.
The increase came in “other compensation,” which includes company-paid costs for Buffett’s personal and home security. As usual, Buffett reimbursed Berkshire $50,000 for personal costs such as postage and phone calls.
Buffett, 83, is the Omaha, Neb., company’s chairman and chief executive.
Most of Buffett’s wealth comes from his Berkshire stock. The share price rose 32 per cent in 2013.
The salaries of Buffett and Vice Chairman Charles Munger have been set at $100,000 for more than 25 years, and Buffett doesn’t want or expect a raise, the conglomerate said in a regulatory filing Friday. Unlike many other companies, Berkshire Hathaway doesn’t grant stock options to executives.