Warren Buffett Highlights Record Tax Payment and Expanding Cash Reserves in Annual Letter

The Berkshire Hathaway CEO emphasizes commitment to equities and warns of economic risks as the company reports a $334 billion cash pile.

Berkshire Hathaway paid $26.8 billion in corporate taxes in 2024, representing 5% of all federal corporate tax revenue, a record for any U.S. company.
The company’s cash reserves grew to an unprecedented $334 billion, driven by reduced stock holdings and limited acquisition opportunities due to high market valuations.
Buffett reaffirmed Berkshire’s long-term preference for equities, particularly American businesses, while investing heavily in Treasury bills amidst improved yields.
Operating profits for Berkshire Hathaway surged 71% in Q4 2024 and 27% for the year, despite over half of its 189 operating businesses reporting a decline in earnings.
Buffett hinted at succession plans, noting that 62-year-old Vice Chairman Greg Abel is poised to assume the CEO role in the near future.