Buffett repays Berkshire $50k for stamps and calls

Warren Buffett received a $100,000 salary as Berkshire Hathaway chairman for the 29th straight year in 2009, but paid back the company $50,000 to cover stamps and phone calls.

Buffett, the world's third richest man, orchestrated the largest purchase of his career during the period, buying railroad company Burlington Northern Santa Fe Corp for $27bn.

However, the billionaire decided to reimburse the group to cover his use of postage stamps, phone calls and staff time used for personal tasks.

Berkshire's vice chairman Charles Munger also picked up a $100,000 salary and paid back $5,500 in expenses. He and Buffett also do not do not use company cars or belong to clubs paid for by Berkshire.

While Buffett could command a significantly higher salary after delivering stunning returns for long-term Berksire shareholders, the Sage of Omaha has been a vocal critic of excessive compensation for CEOs at poorly performing firms.

The head of a failing company should be "destroyed himself financially", he told the Fox Business in January. "There ought to be a huge downside," he added.

Buffett's personal and home security climbed 9.1% to $344,490 during the period.