BUSINESS

Warren Buffet Made Millions On Bailout: Reuters

09/05/2009 05:12 am ET | Updated May 25, 2011

Were it not for government bailouts, for which Buffett lobbied hard, many of his company's stock holdings would have been wiped out.

Berkshire Hathaway, in which Buffett owns 27 percent, according to a recent proxy filing, has more than $26 billion invested in eight financial companies that have received bailout money. The TARP at one point had nearly $100 billion invested in these companies and, according to new data released by Thomson Reuters, FDIC backs more than $130 billion of their debt.

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