Berkshire’s Abel to Get 19% Salary Bump in First Year as CEO (1)

Berkshire Hathaway Inc. Chief Executive Officer Greg Abel will earn an annual cash salary of $25 million, the firm said in a filing Tuesday, far eclipsing the $100,000 that his predecessor Warren Buffett earned for decades in the role.

At the $1 trillion conglomerate’s annual meeting in May, Buffett, 95, revealed that he would cede the CEO role to Abel starting in January. Buffett is still serving as chairman of the company, whose holdings span insurance companies, utilities, railroads and a stock portfolio valued at $283 billion as of Sept. 30.

Greg Abel, center, at the Berkshire Hathaway annual meeting in Omaha.

Photographer: Dan Brouillette/Bloomberg

Abel will also be tasked with deploying the ...