We have come to find out that Bill Gates and Warren Buffett have both received pay raises this year in respect to their varying positions with Berkshire Hathaway. Here’s how it all went down.
“Our shareholders are far wealthier today than they would be if the funds we used for acquisitions had instead been devoted to share repurchases or dividends,” said Buffett in his 2013 annual letter published on March 1.
“Though large transactions of the BNSF kind will be rare, there are still some whales in the ocean.”
The company also urged its shareholders to vote against a current proposal that would have its energy businesses attempting to reduce greenhouse gas and other emissions. There were similar proposals that failed in 2011 and 2013.
Warren Buffett has control of one third of the voting power of Berkshire Hathaway. Shareholder proposals typically opposed by the company often fail by a wide margin.
Berkshire also disclosed recently that Warren Buffett’s compensation grew by 15% last year to reach a total of $485,606. Included is his annual salary of $100,000, plus personal and home security expenses in the amount of $385,606.
Last year, the company paid the majority of its directors an extra $300. That means that Microsoft co-founder Bill Gates, the world’s richest person, made a total of $2100 in 2013 as a director for Berkshire Hathaway.
According to Forbes, Bill Gates is currently worth $76 billion.