New Delhi, Jan. 11 -- Berkshire Hathaway is increasing the salary of its new CEO this year, the company has said in a recent filing. According to the filing on Tuesday, Greg Abel, who recently succeeded Warren Buffett as the new chief executive of the company, is set to get an annual cash salary of $25 million, a 19% bump in his previous pay.

This also eclipses he $100,000 that his predecessor Warren Buffett earned for decades in the role, according to a report by Bloomberg.

Greg Abel, who spent eight years in the role of vice chairman overseeing Berkshire's non-insurance businesses, became the new Berkshire Hathaway CEO on 1 January.

Abel's new salary as CEO would be a 19% increase from his $21 million salary in 2024, according to a r...