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Warren Buffett's Berkshire Hathaway compensation rises 15 per cent to $485,606

File photo of Warren Buffett, chairman and CEO of Berkshire Hathaway
File photo of Warren Buffett, chairman and CEO of Berkshire Hathaway

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Omaha, US:

Warren Buffett's compensation from Berkshire Hathaway Inc rose 15 per cent last year to $485,606, although the billionaire's salary remained $100,000.

The increase came in "other compensation", which includes company-paid costs for Mr Buffett's personal and home security.

As usual, Mr Buffett reimbursed Berkshire $50,000 for personal costs such as postage and phone calls.

Mr Buffett, 83, is the chairman and chief executive of the Omaha, Nebraska company.

Most of his wealth comes from his Berkshire stock, which rose 32 per cent in 2013.

The salaries of Mr Buffett and vice chairman Charles Munger have been set at $100,000 for more than 25 years, and Mr Buffett does not want or expect a raise, the conglomerate said in a regulatory filing on Friday.

Unlike many other companies, Berkshire Hathaway does not grant stock options to executives.

Story first published on: March 15, 2014 11:44 (IST)

Tags: Warren Buffett, Charles Munger, Berkshire Hathaway Inc, Omaha

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