How much does his ‘executive secretary’ make? 500K? And how many shares does she exercise each year?
How much does Uncle Warren make, or even need? Maybe it all goes to berkshire hashaway.
It’s not black and white.
One time he was making this point I added up all the taxes his secretary would have to earn to pay the rate she quoted in that earlier article. It was a minimum of over $300,000 to pay that much. And that's only if she didn't have any capital gains or dividends from investments. If she got lower rates from that, her salary would have to be even higher to get to her quoted rate.
How much does Uncle Warren make, or even need? Maybe it all goes to berkshire hashaway.
I've heard it was around $100,000 salary. However, the IRS "requires" the owner to take an appropriate salary so as to not hide salary as business capital gains. I've never heard anyone hit with penalties for it, but it sounds like Buffet is violating it if as CEO he is taking a salary of less than 1/3 of his secretary.