OMAHA, Neb. – Warren Buffett’s total compensation declined 14 per cent last year to $423,923 as Berkshire Hathaway spent less on his security, but his salary remained unchanged at $100,000.
Buffett’s salary for leading Berkshire as chairman and chief executive hasn’t changed in more than 25 years. The $323,923 for security was the only other element of Buffett’s 2012 compensation because the billionaire foregoes typical executive perks.
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Buffett again paid Berkshire $50,000 to reimburse the Omaha-based company for any personal costs.
The proxy statement Berkshire mailed to shareholders this week also showed that Chief Financial Officer Marc Hamburg is paid significantly more than Buffett.
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Hamburg’s compensation grew 6 per cent to just over $1 million from 2011’s $974,750.
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