Fact checked by Stella Osoba Warren Buffett, the renowned billionaire investor and CEO of Berkshire Hathaway Inc. (BRK.A), has long been a vocal advocate for tax equity, emphasizing that the wealthy and large corporations should pay their fair share.

Warren Buffett has been a fan of the banking industry for many years. Out of the roughly 40 stocks in Berkshire Hathaway's (BRK.A -1.27%) (BRK.B -0.73%) closely watched portfolio,

Warren Buffett began his investing career by putting $1,200 into a farm, after working as a paper delivery boy for the Washington Post.

With an estimated net worth of $155 billion, Warren Buffett is the eighth richest person in the world, according to The Bloomberg Billionaires Index. What's stunning about Buffett's wealth is he acquired it primarily through stock market investments.

Over the last five years, Americans have watched equity markets soar. Just last month, the S&P 500 reached an all-time high of 6,144, up over 89% from January 2020. Such a precipitous increase in the value of U.S. equities has stirred up the usual cacophony of equity-bears screaming “bubble!”

In his 60th annual letter to shareholders released Saturday, the folksy Buffett bragged about footing a record $26.8 billion tax bill.