Greg Abel, Buffett’s Successor, to Earn 36 Billion Won This Year, Among Top-Paid S&P 500 CEOs

According to The Financial News, Greg Abel, who is set to take over from Warren Buffett as chief executive officer (CEO) of Berkshire Hathaway (Berkshire), is receiving one of the highest salaries among CEOs of Standard & Poor's (S&P) 500 companies.
The Wall Street Journal (WSJ) reported on the 7th (local time) that a regulatory filing Berkshire submitted on the 6th disclosed Abel’s annual salary for this year at 25 million dollars (about 36 billion won). The filing did not mention any additional compensation or perks.
WSJ then analyzed proxy statement data from financial information provider MyLogIQ and estimated that Abel’s pay package for this year will rank at the very top among sitting CEOs of S&P 500 companies between 2010 and 2024.
The median total compensation for S&P 500 CEOs in 2024, including stock awards, stock options, pension increases and various perks, is about 16 million dollars (around 23 billion won). Most of the top 100 CEOs receive more than 25 million dollars when stock and other non-cash compensation are included.
Bill Stone, Chief Investment Officer (CIO) at Glenview Trust Company, which holds Berkshire Hathaway shares, commented that for the CEO of a company ranked in the top 10 of the S&P 500, “it is natural to receive compensation commensurate with that status.”
Abel earned about 21 million dollars in 2024 while serving as vice chairman, most of which was salary. His compensation for last year has not been disclosed.
On January 1, at the start of the new year, Buffett handed over the CEO title to his designated successor Abel. However, he will remain chairman of Berkshire Hathaway’s board.
y27k@fnnews.com Seo Yoon-kyung Reporter