Warren Buffett’s successor is all-in on the company: He will spend his entire after-tax salary of $15M buying Berkshire Hathaway stock

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':"";if(r){var a=n.promos.showYahooLogo?"":"yns-no-logo";r=r.replace("{notifOnboardBtnLabel}",n.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",n.promos.notifOnboardMsg).replace("{subscriptionTopic}",n.promos.subscriptionTopic).replace("{noLogoClass}",a).replace("{promoLogo}",n.promos.promoLogo)}var s=t.newCount>n.panel.maxCount?t.newCount:"",c=n.panel.notificationCenterPath,l=c?"":R,u=n.panel.headerMsg?"":" "+R,d=c?U:"",p=void 0;t.count?p=t.markup:p='{emptyPanelMsg}'.replace("{emptyPanelMsg}",n.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",r).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",d).replace("{headerMsg}",n.panel.headerMsg).replace("{hideHeaderClass}",u).replace(/{notificationCenterNavMsg}/g,n.panel.notificationCenterNavMsg).replace(/{newCount}/g,s)}},{key:"render",value:function(e,t){var n=this;if(n._panelNode){var o=void 0,i=n._panelNode,r=void 0,a=void 0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',a=n._store.getNotifications(),r=n._generatePanelMarkup(o,a),i.innerHTML=r;break;case"error_panel":r=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=r}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(P))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),j=function(){function e(t,n,o){E(this,e);var i=this;i._store=n,i._view=o,i._config=t;var r=i._config.panel;i._panelParentNode=document.querySelector(r.parentSelector),i._badgeNode=i._config.badge.selector&&document.querySelector(i._config.badge.selector),i._indicatorNode=r.indicatorSelector&&document.querySelector(r.indicatorSelector)}return C(e,[{key:"createPanelParentNode",value:function(){this._view.createPanelParentNode(this._panelParentNode),this._notifPanelNode=document.getElementById(P)}},{key:"refreshPanelNode",value:function(e,t){var n=this;M(n._notifPanelNode,B),n._store.fetchNotifications(e,(function(e,o){var i=window.wafer&&window.wafer.base;i&&i.destroy(n._notifPanelNode),e?n._notifPanelNode.innerHTML||(n._view.render("error_panel"),M(n._notifPanelNode,B)):(n._view.render("expanded_panel"),n._view.updateBadgeNode(n._badgeNode),n._showBadge(),n._showIndicator(),n._view.addStyles(o.css)),I(n._notifPanelNode,B),i&&i.sync(n._notifPanelNode.parentNode),t&&t(e,o)}))}},{key:"resetBadge",value:function(){var e=this;e._store.resetNewCount(),e._view.updateBadgeNode(e._badgeNode),M(e._badgeNode,e._config.badge.hideClass)}},{key:"_showIndicator",value:function(){this._indicatorNode&&(this._store.getNotifications().newCount?M(this._indicatorNode,this._config.panel.indicatorClass):I(this._indicatorNode,this._config.panel.indicatorClass))}},{key:"_showBadge",value:function(){var e=this;e._store.getNotifications().newCount?I(e._badgeNode,e._config.badge.hideClass):M(e._badgeNode,e._config.badge.hideClass)}}]),e}(),F={promos:{eligibleBodyClass:"display-push-promos",enableNotifOnboard:!0,bypassEligibleClassCheck:!1,notifOnboardBtnLabel:"Notify Me",notifOnboardMsg:"Get alerts for breaking news and top stories",promoLogo:"https://s.yimg.com/cv/apiv2/ae/news/circle_bell.png",showYahooLogo:!0,subscriptionTopic:"gondor_homerun_news"},badge:{hideClass:"",maxCount:5,selector:""},panel:{emptyPanelMsg:"You have no new 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t}},{key:"_validateRequiredConfigs",value:function(){var e=this.config;return!(!e.panel.parentSelector||!e.service.url)}},{key:"_assignHelperMethods",value:function(){var e=this;e.helpers={refreshPanelNode:e._panelController.refreshPanelNode.bind(e._panelController),resetBadge:e._panelController.resetBadge.bind(e._panelController),resetIndicator:function(){I(e._panelController._indicatorNode,e.config.panel.indicatorClass)}}}}]),e}()},z="lnct",G=function(){function e(){var e,t;this.personalized=!1,this.ybarElem=document.getElementById("ybar"),this.partnerClasses=null===(t=null===(e=this.ybarElem)||void 0===e?void 0:e.className)||void 0===t?void 0:t.match(/ybar-variant-([a-z]*)/),this.client=new Y.NotificationClient(this.getConfig())}return e.prototype.refreshPanel=function(){var e,t,n,o=this,i={lastUpdate:this.getTimeStamp()||this.setTimeStamp(),loadInHpViewer:!0,includePersonalized:this.personalized},r=(null===(e=window.YAHOO)||void 0===e?void 0:e.context)||(null===(t=window.Af)||void 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n=e.getConfig();if("smartphone"===n.device){if("finance"===n.property&&"crunch"===n.ytheme&&e.addElementListener(t.searchInput,"click",(function(){var n,o;n="search_input_focus_click",null!==(o=ae())&&(oe[n]||(oe[n]=o)),e.addElementListener(t.searchForm,"click",(function(){if(t.ybar){if(t.ybar.classList.contains("ybar-searchbox-assist-fullscreen"))return;t.ybar.classList.add("ybar-searchbox-assist-fullscreen"),t.ybar.classList.add("ybar-searchbox-assist-fadein")}if(!document.documentElement.classList.contains("ybar-overlay")){document.documentElement.classList.toggle("ybar-overlay"),document.body.classList.add("ybar-overlay-noscroll");te("ybar","websrch","",{elm:"expand",subsec:"searchbox",itc:"1"})}}))})),e.addElementListener(t.searchBoxPlaceholder,"click",(function(){zt(e,t)})),e.addElementListener(t.searchBoxPlaceholder,"keydown",(function(n){var 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n,o,i,r=e.getConfig();if(t.ybar&&["desktop","tablet"].includes(r.device)&&(null===(n=r.bucketConfig)||void 0===n?void 0:n.highlight_searchassist)&&(null===(o=r.bucketConfig)||void 0===o?void 0:o.overlay_class)){t.ybar.setAttribute("data-ovrly-bkt",r.bucketConfig.overlay_class),null===(i=t.searchForm)||void 0===i||i.classList.add(Ft[r.bucketConfig.overlay_class]);var a=document.createElement("div");a.classList.add(Ft.overlay,Ft[r.bucketConfig.overlay_class]),document.body.appendChild(a),e.onDestroy((function(){document.body.removeChild(a)})),e.addElementListener(t.searchForm,"focusout",(function(e){if(t.searchForm&&t.searchInput){var n=e.relatedTarget;n&&!t.searchForm.contains(n)&&window.YAHOO.SA&&window.YAHOO.SA.apps&&window.YAHOO.SA.apps[0]&&window.YAHOO.SA.apps[0].view.shown&&window.YAHOO.SA.apps[0].view.hide()}}))}}(e,o),Vt(e,o),o.searchGradientBorder){var i=!1;o.searchInput.addEventListener("keydown",(function(e){var 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company he took over in January each year for as long as he is in charge.These purchases, which he said would take place yearly after the company releases its annual results, would amount to “hundreds of millions of dollars” of share repurchases over the years. Abel already bought about $15.3 million worth of Berkshire Hathaway shares this week, according to a filing with the Securities and Exchange Commission.“Absolute alignment with our shareholders, our partners, our owners is critical,” Abel told CNBC. “I already have some shares, but the goal was to continue to demonstrate alignment with them.”Despite Buffett’s famous preference for thriftiness, Abel said he made the decision to use his salary to buy Berkshire shares on his own.“It’s a logical thing to do when you’re leading the company,” he said.Aleksandar Tomic, the director of the master of science in applied analytics and master of science in applied economics programs at Boston College, told Fortune Abel is trying to show the market his allegiance.“Abel is really trying to signal strongly that the company will survive even after Buffett’s departure,” he said.The move may have worked for now. Following the announcement, Berkshire’s shares rose more than 1% Thursday.Separately, Berkshire announced Wednesday it would begin buying back its own shares, changing course after Buffett’s previous aversion to such buybacks, which help investors by tacking shares out of circulation and raising the stock price as well as increasing the stakes of large shareholders. Buffett has previously criticized other executives for repurchasing their company’s shares.“I can’t help but feel that too often today’s repurchases are dictated by management’s desire to ‘show confidence’ or be in fashion rather than by a desire to enhance per-share value,” he wrote in his shareholder letter from 1999.Still, Abel told CNBC the company has a longstanding policy of buying its own shares when it believes their “intrinsic value” is above the price being offered for them on the market. Abel also said he made the decision after consulting Buffett.“Mr. Abel’s personal investment activity reflects long-term alignment with our shareholders – owners. Going forward, Mr. Abel has said he will invest his annual salary, on an after-tax basis, in Berkshire shares at the market price at the time of purchase, irrespective of where the shares may be trading,” said a Berkshire Hathaway spokesperson in a statement.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,740.02 -90.69 (-1.33%)Dow 3047,501.55 -453.19 (-0.95%)Nasdaq22,387.68 -361.31 (-1.59%)Russell 20002,525.30 -60.27 (-2.33%)VIX29.49 +5.74 (+24.17%)Gold5,181.30 +102.60 (+2.02%)Trending tickersBTC-USD Bitcoin USD 68,303.62 -2,638.34 (-3.72%)VRT Vertiv Holdings Co 241.78 -7.97 (-3.19%)LITE Lumentum Holdings Inc. 558.44 -92.38 (-14.19%)BE Bloom Energy Corporation 135.19 -24.80 (-15.50%)PRSO Peraso Inc. 2.0400 +1.2290 (+151.54%)PortfolioSign in to access your portfolioSign inTop gainersDAWN Day One Biopharmaceuticals, Inc. 21.20 +8.42 (+65.88%)IOT Samsara Inc. 35.36 +5.78 (+19.54%)MRVL Marvell Technology, Inc. 89.57 +13.89 (+18.35%)EMAT Evolution Metals & Technologies Corp. 9.76 +1.25 (+14.69%)IOVA Iovance Biotherapeutics, Inc. 5.13 +0.55 (+12.01%)Top losersINGM Ingram Micro Holding Corporation 22.06 -4.30 (-16.31%)BE Bloom Energy Corporation 135.19 -24.80 (-15.50%)GAP The Gap, Inc. 23.28 -3.92 (-14.41%)LITE Lumentum Holdings Inc. 558.44 -92.38 (-14.19%)JEF Jefferies Financial Group Inc. 38.29 -5.99 (-13.53%)Most activeNVDA NVIDIA Corporation 177.82 -5.52 (-3.01%)ONDS Ondas Inc. 9.83 -0.63 (-6.05%)AAL American Airlines Group Inc. 11.18 -0.61 (-5.17%)MRVL Marvell Technology, Inc. 89.57 +13.89 (+18.35%)BBD Banco Bradesco S.A. 3.6800 -0.0600 (-1.60%)Top economic eventsEarnings eventsMy earnings eventsEarnings events