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