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Buffett: Berkshire Hathaway made $29 billion from GOP tax cuts

Warren Buffett.
Warren Buffett. Photo: Daniel Zuchnik / WireImage

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."
— Warren Buffett