15 Mar 2019

Buffett’s Berkshire says Abel, Jain each make $18 million

Berkshire Hathaway shareholders walk by a video screen at the company’s annual meeting in Omaha May 4, 2013. REUTERS/Rick Wilking/File Photo

(Reuters) – Berkshire Hathaway Inc on Friday said its newest vice chairmen, Greg Abel and Ajit Jain, were each awarded about $18 million last year, in the first detailed look at the pay of the men considered the leading candidates to succeed Warren Buffett as the conglomerate’s chief executive.

Abel, 56, and Jain, 67, who became vice chairmen in January 2018, both received $16 million in salary plus $2 million in bonus, according to a filing with the U.S. Securities and Exchange Commission. The bonus was awarded at Buffett’s discretion, according to the filing.

Reporting by Jonathan Stempel in New York; Editing by Chris Reese

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