Buffett rejects company car, salary hike; pays CFO more

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company cars or belong to clubs to which the company pays dues. It should also be noted that neither Buffett nor Munger utilises corporate-owned aircraft for personal use. Each of them is personally a fractional NetJets owner, paying standard rates, and they use Berkshire owned aircraft for business purposes only.”

Berkshire further said that directors of the company or its subsidiaries who are employees or spouses of employees do not receive fees for attendance at directors’ meetings.

However, a director who is not an employee or a spouse of an employee receives a fee of $900 for each meeting attended in person and 300 dollars for participating in any meeting conducted by telephone.

Besides, directors are reimbursed for their out-of-pocket expenses incurred in attending meetings of directors or shareholders, the company noted.