Tom Murphy Jr.
About Thomas S. Murphy, Jr.
Independent director of Berkshire Hathaway Inc. since December 19, 2022; age 65. Co‑founder and partner at Crestview Partners (since 2004) and previously a partner at Goldman Sachs & Co.; serves on the boards of New York University, NYU‑Langone Health, and the Inner‑City Scholarship Fund. Classified as independent under NYSE and SEC standards by Berkshire’s Governance, Compensation and Nominating Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Crestview Partners | Co‑founder & Partner | 2004–present | Private equity leadership; substantial financial experience |
| Goldman Sachs & Co. | Partner | Prior to 2004 | Investment banking experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| New York University (NYU) | Board member | Not disclosed | Higher education governance |
| NYU‑Langone Health | Board member | Not disclosed | Health system oversight |
| Inner‑City Scholarship Fund | Board member | Not disclosed | Non‑profit governance |
| Several private companies | Director | Not disclosed | Private company board service |
Board Governance
- Independence: Determined independent by the Governance, Compensation & Nominating Committee .
- Committees: Member, Governance, Compensation & Nominating Committee (with Burke, Chenault, Guyman; Guyman is Chair) .
- Committee activity: Governance Committee met once during 2024; Audit Committee (which Murphy does not sit on) met six times .
- Attendance: Each director attended all Board and applicable committee meetings in 2024; three independent-director sessions held in 2024 .
- Board leadership: Lead Independent Director is Susan L. Decker .
| Committee | Role | 2024 Meeting Count |
|---|---|---|
| Governance, Compensation & Nominating | Member | 1 |
| Audit | Not a member | 6 |
| Independent Directors’ Sessions | Participant (as applicable) | 3 |
Fixed Compensation
- Policy: Non‑employee directors receive $900 per in‑person meeting, $300 per telephonic meeting; Audit Committee members receive $1,000 quarterly; directors reimbursed for out‑of‑pocket expenses; no directors & officers (D&O) liability insurance provided .
| Year | Fees Earned or Paid in Cash | Notes |
|---|---|---|
| 2024 | $2,700 | No equity or option grants disclosed; amount reflects meeting/committee fees per policy |
| 2023 | $2,700 | Consistent structure year over year |
Performance Compensation
- Berkshire discloses only cash meeting/committee fees for directors; no stock, option, or performance‑based awards are shown for directors in the Director Compensation tables .
| Component | 2023 | 2024 | Performance Metrics Tied to Pay |
|---|---|---|---|
| Stock awards (RSUs/PSUs) | None disclosed | None disclosed | None disclosed |
| Option awards | None disclosed | None disclosed | None disclosed |
Other Directorships & Interlocks
- Public company boards: None disclosed for Murphy Jr. .
- Governance Committee interlocks: During 2024, none of Berkshire’s executive officers served on boards/compensation committees where Berkshire directors served as executive officers; committee members (including Murphy Jr.) have not been Company officers/employees .
| Company/Entity | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| NYU, NYU‑Langone Health, Inner‑City Scholarship Fund | Non‑profit/Academic | Board member | No interlocks with Berkshire management disclosed |
Expertise & Qualifications
- Substantial financial experience as private‑equity partner and former Goldman Sachs partner; adds owner‑oriented investment perspective aligned with Berkshire’s governance attributes .
Equity Ownership
- Beneficial ownership as of March 5, 2025: 96 Class A shares; 2,125 Class B shares; each <0.1% of respective classes; no footnote indicating pledging for Murphy Jr. .
| Class | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Class A | 96 | <0.1% | No pledging footnote disclosed |
| Class B | 2,125 | <0.1% | No pledging footnote disclosed |
Governance Assessment
- Strengths: Independent director with 100% attendance; member of the Governance, Compensation & Nominating Committee overseeing CEO pay and governance guidelines; personal share ownership supports alignment; frugal cash‑only director pay consistent with Berkshire culture .
- Watch items: As a private‑equity partner, potential related‑party exposure could arise if Berkshire subsidiaries transact with Crestview portfolio companies—none disclosed in Related Persons Transactions, but monitor future proxies and 8‑Ks for any such dealings (no Murphy‑specific related transactions disclosed) . Limited formal Governance Committee meeting frequency (one in 2024) may constrain visible committee engagement cadence .
- Structural context: Not on Audit Committee; Lead Independent Director role held by Susan L. Decker; independent‑director executive sessions held three times in 2024, indicating regular independent oversight outside full Board .
RED FLAGS: None disclosed specific to Murphy Jr. on attendance, related‑party transactions, pledging, or pay anomalies; Berkshire’s absence of D&O insurance for directors is atypical and may be viewed as a governance risk consideration from a director‑protection standpoint .