Warren Buffett released his annual letter on Saturday, in which he tells shareholders that his company, Berkshire Hathaway, made $29 billion in 2017 because of the GOP tax cuts.
"Berkshire's gain in net worth during 2017 was $65.3 billion...A large portion of our gain did not come from anything we accomplished at Berkshire. The $65 billion gain is nonetheless real – rest assured of that. But only $36 billion came from Berkshire’s operations. The remaining $29 billion was delivered to us in December when Congress rewrote the U.S. Tax Code."
Dropbox, a file storage and sharing company, has filed for a $500 million initial public offering.
Offering details: The San Francisco-based company plans to trade on the NASDAQ under ticker symbol DBX, with Goldman Sachs listed as left lead underwriter.
Financials: Dropbox is not profitable yet. It reported net losses of $210.2 million and $111.7 million in fiscal 2016 and 2017, respectively. Dropbox brought in $844.8 million in revenue during the fiscal year of 2016, and $1.1 billion in fiscal 2017.
Appearing on Fox News' "The Ingraham Angle"last night,Eric Trump defended his father against the Russian "hoax" claiming that as a member of the campaign, he could say from personal experience that the election victory had nothing to do with Russians.
"You know why my father won? Because he went to Ohio, and he went to Michigan, he went to Wisconsin. And he worked a lot harder and he had a better message and he sold that to the American people and they ultimately wanted a businessman in Washington, D.C., not a career politician. That’s why my father won."
