THIS INDIAN-ORIGIN BERKSHIRE HATHAWAY EXECUTIVE MADE RS 166 CR AMID WARREN BUFFETT'S 2023 RS 3 CR PAY
Berkshire Hathaway Chairman, Vice Chairmen Salary 2023: For the calendar year gone by, Bekrshire Hathaway CEO and Chairman Warren earned over Rs 3 crore. While the annual compensation is reviewed annually, investing doyen Buffett has kept his yearly pay unchanged for over 3 decades.
Berkshire Hathaway Committee has not proposed an increase in Buffett’s compensation since the Committee was created in 2004. Prior to that time, the ‘Oracle of Omaha’ had recommended that his annual compensation be fixed at $100,000.
Warren Buffett Salary 2023
While the salary component in his compensation has been constant, Buffett’s total pay has increased in the last 3 years. In 2023, Buffett earned $100,000 as salary, and $313,595 as all other compensation, which takes the amount to $413,595 or around Rs 3.44 crore.
ALSO READ: Meet IIT Kharagpur, Harvard alumnus Ajit Jain, after hiring whom Warren Buffett ‘struck gold’
While he is at the top post in the company, Buffett isn’t the highest-paid executive at the company. Instead, it is an Indian-origin man who is enjoying this distinction. Vice Chairman-Insurance Operations Ajit Jain is the one getting paid the highest at the company along with Greg Abel.
Ajit Jain Salary 2023
It is worth mentioning here that Buffett had last year said that he had “struck gold” after hiring Jain. “Ajit has created tens of billions of value for Berkshire shareholders. If there were ever to be another Ajit and you could swap me for him, don’t hesitate. Make the trade!," Buffett wrote once.
So, how much is he earning?
For the year 2023, Jain’s total compensation was $20,016,500 or over Rs 166 crore. This includes a salary of $20,000,000 and $16,500 as other compensation. His total pay for 2022 was $19,015,250 while for 2021, it was $19,014,500.
Who is Ajit Jain?
India-born Ajit Jain is an IIT Kharagpur alumnus, who graduated in mechanical engineering from the prestigious institute. Jain also studied for a management degree from Harvard University. He later worked as a salesman for IBM for three years for their data processing operations until 1976.
Jain subsequently went to McKinsey & Co to work in the role of Executive between 1978 and 1986 before joining Berkshire Hathaway in 1986.
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2024-05-05T05:57:09Z dg43tfdfdgfd