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[Music] this is warren buffett one of the richest people in the world thanks to the company he runs berkshire hathaway basically its a holding company that just owns a bunch of other companies geico dairy queen a huge railroad as well as a lot of stock in other companies like apple and coca-cola so when those companies do well and their stock goes up berkshire hathaway stock goes up when buffett took over the company in 1965 a single share was worth nineteen dollars today its worth nearly half a million dollars buffett owns nearly 240 000 of these shares this is where his wealth is but as hes been known for pointing out warren buffett still pays a lower tax rate than his secretary she pays at twice the rate i pay i think thats outrageous thats because they pay different types of taxes his secretary pays income taxes on her salary but buffett mainly pays capital gains taxes on his sold stock and thats taxed at nearly half the rate the wealthy are definitely under tax in the u.s t
