Warren Buffett filed his first tax return in 1944 at age 14, owing just $7 on earnings of $592.50 as a paperboy in Washington, D.C., according to fortune.com. Adjusted for inflation, his income would be $11,406.65 and taxes $134.76 today. In contrast, Berkshire Hathaway, the company Buffett leads, paid $26.8 billion in U.S. taxes in 2024, the highest-ever payment reported by the firm.
Buffett shared his 1944 tax return publicly through PBS News Hour in 2017, highlighting his early start in paying taxes. He has consistently advocated for higher taxes on the wealthy, stating in his 2024 shareholder letter that before he took control in 1965, Berkshire Hathaway paid no income tax, which he described as an embarrassment. Buffett criticized such tax avoidance by established companies as a warning sign for the economy.
The tax payment by Berkshire Hathaway in 2024 underscores the scale of the company’s earnings and Buffett’s long-standing position on tax fairness. Buffett, worth $142 billion and once the richest person globally, contrasts his modest early tax payments with the massive contributions his company now makes. His stance aligns with broader debates on wealth taxation and corporate responsibility in the U.S.
Buffett was born on August 30, 1930, in Omaha, Nebraska. His 2024 shareholder letter detailed the $26.8 billion tax payment, marking a record for Berkshire Hathaway, reflecting both the company’s growth and Buffett’s public advocacy for increased tax contributions by the wealthy.