Ann: Annual Report to shareholders, page-20

As Chief Executive Officer/Chairman of the Board at BERKSHIRE HATHAWAY, Warren E. Buffett made $470,244 in total compensation. Of this total $100,000 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $370,244 came from other types of compensation.





Warren Buffett, the second-richest man in the U.S., has a message for the person who eventually replaces him as chief executive officer of Berkshire Hathaway Inc.: You’ll be plenty wealthy, so don’t complain about pay.
Buffett, 84, stuck with a $100,000 salary in 2014, as he has for decades, his Omaha, Nebraska-based company said in a regulatory filing Friday. On Feb. 28, in his annual letter, he said the next CEO needs to avoid being greedy.

“He can’t help but earn money far in excess of any possible need for it,” wrote Buffett, who is also chairman. “But it’s important that neither ego nor avarice motivate him to reach for pay matching his most lavishly compensated peers, even if his achievements far exceed theirs.”
In a longer-than-usual letter to shareholders celebrating his fiftieth year managing the company, Buffett explained what he expects of the next generation of leadership. He cited benefits of running a decentralized conglomerate and cautioned against diluting shareholders by using stock to fund takeovers.
His son Howard Buffett, as non-executive chairman, will be able to deal with an underperforming CEO, the billionaire wrote. Warren Buffett also contrasted the risks of arrogance, bureaucracy and complacency with the benefits of sending a company-first message.

“A CEO’s behavior has a huge impact on managers down the line,” Buffett wrote. “If it’s clear to them that shareholders’ interests are paramount to him, they will, with few exceptions, also embrace that way of thinking.”
Buffett’s Fortune
Buffett’s wealth, mostly in his company’s stock, is valued at more than $70 billion, second in the U.S. to Microsoft Corp. co-founder Bill Gates, who is a director at Berkshire. While Buffett’s security expenses are covered by Berkshire, he reimburses the firm for costs such as telephone calls or postage stamps for personal use, according to the filing.
“No one can replicate Warren Buffett, you can’t find someone to be him,” Gary Goldstein, head of executive-search firm Whitney Partners, said in an interview before Berkshire filed its proxy statement. “What you need to do is find someone who carries the same values and principles and philosophy to investing.”


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