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.