1. It's rare. David Sokol was Buffett's "Mr Fix-It" and heir apparent. He took over NetJets and Johns Manville when they were struggling and turned them around. 2. I don't think there's great data on manager pay. But I recall contracts are simple and managers can be paid a lot.
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1. Thanks. 2. Any idea as to what the equity/salary splits were? No stock-options outside of the right to purchase BRK.A on the public market right?
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For 2 Buffett mentions they get paid based on certain key meterics for their specific business (ie GEICO based on float and combined ratio)
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All salary and bonuses, no stock options right? Buffett must be a genius to know the KPIs for all of the different businesses he owns.
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Regarding #2: Below they just talked about cash bonuses. It's based on the reduction of cost and increased profitability. (start at 2:50)https://youtu.be/F0P0CGh_X5c?t=170 …
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GREAT FIND, thank you.
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I remember Berkshire bought pampered chef (MLM scam co) and Buffett got rid of the CEO and input his wunderkind protogé Tracy Brit Cool awhile ago. Looks like she's still in charge.
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