He noted, however, that only $36 billion came from Berkshire's business operations.
Investor Warren Buffett says offered a collection of investment advice in his annual letter to Berkshire Hathaway shareholders. "But 2017 was far from standard: A large portion of our gain did not come from anything we accomplished at Berkshire".
The rest was a gift from the new US tax code.
Billionaire investor Warren Buffett used his widely-read annual letter to Berkshire Hathaway Inc. shareholders on Saturday to again call out the wasteful fees that many money managers charge.
"You and I are lucky to have Ajit and Greg working for us", Buffett wrote.
Berkshire's cash pile swelled to $116 billion from $109 billion in the third quarter.
But he said the prices asked for businesses previous year "hit an all-time high", and Berkshire will be looking for those available at "a sensible purchase price".
The lower tax rate also contributed to a 23 percent full-year boost in Berkshire's book value, which measures assets minus liabilities and Buffett considers a good indicator of Berkshire's net worth, to $211,750 per Class A share.
Buffett predicted the company's stock will fall again by similar large declines in the next 53 years.
The iPhone maker, which wasn't even a Berkshire holding until the first quarter of 2016, has quickly grown to one of Berkshire's top stock holdings, if not its biggest. And sometimes I will make expensive mistakes.
"I want to quickly acknowledge that in any upcoming day, week or even year, stocks will be riskier - far riskier - than short-term USA bonds".
"We expect Buffett's annual letter to reassure investors that his health remains remarkable and he intends to be around for awhile", said Cathy Seifert, equity analyst at CFRA Research in NY.
Warren Buffett says the Trump tax cuts passed late a year ago were a huge win for him and his company, Berkshire Hathaway (BRK-A, BRK-B).
Buffett touted his win in a bet that he made 10 years ago, in which he basically wagered that a low-priced index fund tracking the S&P 500 stock index would post better returns over the next decade than a portfolio of five fund of funds run by high-fee hedge fund managers, often considered the "smart money" on Wall Street.