Greg Abel officially assumed the role of Chief Executive Officer at Berkshire Hathaway on January 1, 2026, succeeding Warren Buffett as the head of the $1 trillion conglomerate.
The transition introduces a new $25 million annual cash salary for Abel, marking a significant departure from the symbolic $100,000 pay maintained by Buffett for over four decades.
Okay News reports that the leadership change follows the retirement of the 95-year-old Buffett, who built the textile firm into a global powerhouse over 60 years and will now remain as Chairman.
The board’s decision to raise Abel’s pay from his previous $21 million salary signals a move toward market standards for the massive enterprise.
Despite the increased compensation, Abel’s personal wealth remains deeply tied to the company through his $171 million stake in Berkshire stock. This financial alignment is intended to preserve the firm’s unique culture of owner-oriented management as it navigates its first chapter without the “Oracle of Omaha” at the helm.
