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Fortune
Fortune
Sasha Rogelberg

'Envy and greed walk hand in hand': Warren Buffett casts side eye on Elon Musk-sized pay packages in final send-off

Warren Buffett Elon Musk United States Berkshire Berkshire Hathaway RJ Scaringe Tesla Inc. EV Rivian
Warren Buffett speaks in front of a microphone. He is in front of a bright teal background. (Credit: Daniel Zuchnik—WireImage)

Berkshire Hathaway CEO Warren Buffett said he has seen a burgeoning trend of snowballing CEO pay as executives eyeball each other’s ever-growing compensation deals.

In his annual shareholder letter—the last one he will pen as CEO before Berkshire vice chair Greg Abel takes over on Jan. 1—Buffett suggested chief executives are driven by greed and selfishness to drive up their own pay after seeing competitors ratchet up their own remunerations.

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