Very little changes in Buffett's compensation

AP News
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Posted: Mar 14, 2012 5:10 PM
Very little changes in Buffett's compensation

Warren Buffett's compensation from Berkshire Hathaway slipped about six percent last year to $491,925, but the billionaire's salary remained unchanged at $100,000.

Buffett prefers simple compensation arrangements. According to the company's proxy statement, his 2011 compensation includes only three items: his salary, $346,925 worth of personal and home security, and $45,000 for serving on the board of the Washington Post Co.

The main reason for the reduction in Buffett's compensation from the $524,946 he received in 2010 was he left the Post's board last May, so his director's fees declined.

As he has for years, Buffett paid Berkshire $50,000 to reimburse the Omaha-based company for any personal costs, such as postage or calls Berkshire may have paid for. Most of Buffett's wealth comes from his Berkshire Hathaway Inc. stock.