Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
In a world where Wall Street firms give lavish compensation to their managers even as many underperform the stock market, the Oracle of Omaha gets paid just $100,000 in salary per year.
"Due to Mr. Buffett's and Mr. Munger's desire that their compensation remain unchanged, the Committee has not proposed an increase in Mr. Buffett's or Mr. Munger's compensation," Berkshire Hathaway said in a securities filing Friday.
The company said Buffett's compensation hasn't changed in more than 25 years. Meanwhile, Buffett manages Berkshire's $170 billion stock portfolio and guided the company's market value to a 20.9 percent annual return from 1965 to 2017 versus the S&P 500's 9.9 percent gain.
Buffett's frugality for Berkshire does not end with his salary. The filing also reveals he gave $50,000 last year to the company for the reimbursement of personal expenses such as postage and phone calls.
"Mr. Buffett will on occasion utilize Berkshire personnel and/or have Berkshire pay for minor items such as postage or phone calls that are personal. Mr. Buffett reimburses Berkshire for these costs by making an annual payment to Berkshire in an amount that is equal to or greater than the costs that Berkshire has incurred on his behalf. During 2017, Mr. Buffett reimbursed Berkshire $50,000."
To be sure, Buffett doesn't need the money. He has an estimated net worth of $87.6 billion primarily from his 38 percent stake in Berkshire Hathaway Class A shares, good for third richest person in the world, according to Forbes.
But the investor sure goes out of his way to underpay himself for shareholders' benefit.