Buffett’s Annual Letter: Berkshire Records $29 Billion Gain From Tax Law
In commenting on the contribution from lower taxes, Mr. Buffett said: “The $65 billion gain is nonetheless real — rest assured of that.”
Mr. Buffett did not use his widely read shareholders’ letter to expand on his recent criticisms of certain types of tax cuts.
In an annual letter to Berkshire’s shareholders on Saturday, the company’s chief executive, Warren Buffett, said
the conglomerate recorded a more than $29 billion gain related to the tax overhaul that became law in December.
Each year, Mr. Buffett highlights the change in Berkshire’s book value, a measure of the company’s net worth.
The company’s book value rose by $65.3 billion to $358 billion in 2017, a 23 percent gain from $282 billion at the end of 2016.