Imagine, for a moment, that you’re the CEO of a major corporation. The job is demanding and your schedule is grueling. But you have a salary to compensate for all your hard work. So how would you spend your executive salary? Yachts? Vacation homes? Golf?
By day, the chief executives featured in our “Off the Cuff” series, run some of the most high-profile U.S. companies. But what they do off the clock, and what they value most may surprise you.
For example, the second richest man in the U.S., Warren Buffett, said he treasures the Internet above all his many perks.
Buffett, the chairman and chief executive of Berkshire Hathaway, has an estimated net worth of $46 billion. He’s famously frugal, and he said his greatest expenditure is his private plane. But when CNBC asked him: would he give up the corporate jet? Buffett surprised us with his answer.
“And fly commercial again? Yeah I guess I would,” he told “Off the Cuff.” But, “I love the plane, (it’s) the only thing I do that costs a lot of money, but I would pay a lot more money to have the Internet than have the plane.”
Indra Nooyi, chief executive of Pepsico, said her greatest extravagance is buying clothes. She told ”Off the Cuff” that being in the public eye takes a toll on her wardrobe. She can’t wear the same outfit too many times. “This is why I think guys are lucky … wear the same suit, change the shirt and tie, and you’re in business.”
The youngest of our chief executives, Tumblr founder David Karp, 25 values spontaneous vacations. Sometimes, the trips get him into hot water. “It all plays into my Jason Bourne and James Bond fantasies,” he said, referring to the fictional spy characters.
For other CEOs in our series, their greatest extravagances include boats, food, a good hair day and that most precious commodity of all, free time.