Warren Buffett has been one of the richest men on Earth for a long time now but a good question is how well does he get compensated yearly that’s worth for him to still work? Surprisingly he decided a very low number for his yearly salary that doesn’t differ too far from anyone else working inside his company. To understand why he decided to take this path regarding his salary it’s important to look into how he treats his work now compared to others and how he thinks of spending money in general.
In 2017 Buffett claimed a $100 000 salary for the year that he was CEO and Chairman of the company Berkshire Hathaway. The $100k salary doesn’t even makeup twice the pay of a typical employee as the median pay for 2017 ended up being $53 510. Why would he decide to get so little yearly when he has such an important role for the company? Well to start the man doesn’t earn any other compensation currently for the job he does but has from the past 283 000 of Class A stock in Berkshire Hathaway which makes up most of his fortune so he’s clearly not hurting in those regards.
Additionally, Buffett has also made a point of trying to be modest with his money as he’s notorious for still living in the nice but not very gaudy house he bought in Omaha NE in 1958. Buffett also makes daily decisions on how much money he’ll spend on a daily basis for example constantly not even spending $5 for breakfast at McDonald’s a cheap food branch that Buffett has even been notorious for using coupons when getting food with Bill Gates before.
Buffett clearly has the ability to have it all and even compensate further but a lifetime of saving habits and not thinking too highly of himself over other employees in his company has made him the humble man he is today.