New US tax law brings Buffett's firm $29 billion

Berkshire Hathaway, the holding company of US billionaire investor Warren Buffett, received a stunning $29 billion last year from the US government, thanks to a new tax law that massively lowered corporate tax rates. In his much-anticipated annual letter to shareholders, Buffett explained that the company's net gain of $65.3 billion in 2017 was only partly due to his employees' efforts. "Only $36 billion came from Berkshire's operations," he wrote.

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