Warren Buffett’s 2024 Annual Letter to Berkshire Hathaway Shareholders
https://www.berkshirehathaway.com/letters/2024ltr.pdf
The U.S. Treasury, of all places, had already received silent warnings of Berkshire’s destiny. In 1965, the company did not pay a dime of income tax, an embarrassment that had generally prevailed at the company for a decade. That sort of economic behavior may be understandable for glamorous startups, but it’s a blinking yellow light when it happens at a venerable pillar of American industry. Berkshire was headed for the ash can.
Fast forward 60 years and imagine the surprise at the Treasury when that same company – still operating under the name of Berkshire Hathaway – paid far more in corporate income tax than the U.S. government had ever received from any company – even the American tech titans that commanded market values in the trillions.
To be precise, Berkshire last year made four payments to the IRS that totaled $26.8 billion. That’s about 5% of what all of corporate America paid.
Warren Buffett Dismisses Concerns About Cash Holdings
https://www.morningstar.com/stocks/warren-buffett-dismisses-concerns-about-cash-holdings
https://www.berkshirehathaway.com/letters/2024ltr.pdf
The U.S. Treasury, of all places, had already received silent warnings of Berkshire’s destiny. In 1965, the company did not pay a dime of income tax, an embarrassment that had generally prevailed at the company for a decade. That sort of economic behavior may be understandable for glamorous startups, but it’s a blinking yellow light when it happens at a venerable pillar of American industry. Berkshire was headed for the ash can.
Fast forward 60 years and imagine the surprise at the Treasury when that same company – still operating under the name of Berkshire Hathaway – paid far more in corporate income tax than the U.S. government had ever received from any company – even the American tech titans that commanded market values in the trillions.
To be precise, Berkshire last year made four payments to the IRS that totaled $26.8 billion. That’s about 5% of what all of corporate America paid.
https://www.morningstar.com/stocks/warren-buffett-dismisses-concerns-about-cash-holdings