$7 – That’s What Warren Buffet Paid As His First Tax Return!
86-year-old Warren Buffet, an American business magnate, is the fourth richest man in the world.
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Guess how much Warren Buffet, the man whose net worth today is valued at $75 billion, paid as his first income tax return in 1944?
A mere 7 dollars.
The two-page tax return that Buffet provided to PBS News Hours shows the then 14-year-old’s total earnings as $592.50, including $364 from his job as a paperboy and $228 in interest and dividends.
The fact that the 2nd richest man in the US ventured into investing as an adolescent also gives a glimpse into how he became one of the most successful investors of the world.
Buffet, 86, is also the 4th richest man in the world.
These tax returns gain even more prominence given the allegations hurled by US President Donald Trump, who accused Buffet to claiming huge deductions on his incomes. After this, Time Money even published an article noting that Trump himself has never revealed any of his tax returns.
Buffet had, in response to Trump’s allegation, asserted that he had all his 72 income tax returns to show as proof. Well we have access to one of them now.
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