Buffett's Berkshire says Abel, Jain each make US$18 million

Buffett's Berkshire says Abel, Jain each make US$18 million

Berkshire Hathaway Inc on Friday said its newest vice chairmen, Greg Abel and Ajit Jain, were each awarded about US$18 million last year, in the first detailed look at the pay of the men considered the leading candidates to succeed Warren Buffett as the conglomerate's chief executive.

File photo of Berkshire Hathaway shareholders walking by a video screen at the company's annua
Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha May 4, 2013. REUTERS/Rick Wilking/File Photo

REUTERS: Berkshire Hathaway Inc on Friday said its newest vice chairmen, Greg Abel and Ajit Jain, were each awarded about US$18 million last year, in the first detailed look at the pay of the men considered the leading candidates to succeed Warren Buffett as the conglomerate's chief executive.

Abel, 56, and Jain, 67, who became vice chairmen in January 2018, both received US$16 million in salary plus US$2 million in bonus, according to a filing with the U.S. Securities and Exchange Commission. The bonus was awarded at Buffett's discretion, according to the filing.

(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)

Source: Reuters

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