Warren Buffett's salary was just $100,000 last year - and he returned $50,000 to Berkshire Hathaway
, and hates wasting his shareholders' money. Neither the 92-year-old executive nor his 99-year-old business partner, Charlie Munger, use company cars or belong to any clubs where Berkshire pays their membership dues.
The pair don't use company-owned aircraft for personal trips. They pay standard rates to Berkshire-owned NetJets, which sells fractional ownership in private jets. Buffett admits to occasionally enlisting employees for private tasks, and mailing letters and making phone calls on the company dime. However, he reimburses Berkshire by paying it $50,000 every year, the proxy statement says.
Both Buffett and Munger have told Berkshire's governance committee that they're happy with their $100,000 salaries, and neither expect nor desire a pay raise. It's worth noting that Buffett didn't become a billionaire by earning a big salary. His wealth reflects his ownership of 227,416 of Berkshire's"A" shares, worth over $100 billion on paper.
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