Warren Buffett says he made $62,855,038 last year
FILE - In this Oct. 6, 2010 file photo, Berkshire Hathaway Inc. Chairman Warren Buffett listens to Secretary of State Hillary Rodham Clinton speak in Washington. Buffett's Berkshire Hathaway Inc. in August, 2011, invested $5 billion in Bank of America, for preferred shares that will earn him an annual dividend of 6 percent and the option to purchase 700 million shares of common stock at $7.14 per share. (AP Photo/J. Scott Applewhite, File)
WASHINGTON >> Warren Buffett has called himself mega-rich, but now he’s revealing how much money he made last year: $62,855,038.
The billionaire investor disclosed the figure in a letter he wrote Tuesday to Republican Rep. Tim Huelskamp of Kansas that was obtained by The Associated Press. Buffett and Huelskamp have been sparring over Buffett’s call for higher taxes on the wealthy.
In a New York Times opinion piece this summer, Buffett had revealed that he paid $6,938,744 in federal taxes last year, or 17.4 percent of his taxable income. He has said that rate is too low.
Buffett’s letter to Huelskamp specified that his adjusted gross income — which excludes some types of income and expenses — was $62,855,038. His taxable income — which subtracts exemptions and itemized deductions — was $39,814,784.
