Revealed: How much Buffett made in 2010

Berkshire Hathaway chief executive Warren Buffett has revealed his gross income last year was nearly $63m.

In a letter to US Republican congressman Tim Huelskamp, Buffett revealed his adjusted gross income last year was $62,855,038.

His taxable income was $39,814,784, and Buffett said he paid $15,300 in payroll taxes.

The disclosure is part of the Sage of Omaha's campaign to get the US Congress to raise taxes on the super rich.

In his letter Buffett told Huelskamp: "I hope you suceed in getting the ultra rich - who, as a group, are paying less of their income to the federal government than their receptionists - to share in the sacrifice many millions of other Americans will soon be asked to do.

"Having the "favoured 400" make their tax returns public - even if only code letters were attached to the various retunrs - would be a big step in informing legislators and the public what need to be done."

Buffett also said his income tax bill came to $6,923,494, or 17.4% of his taxable income, two points he revealed in a New York Times article in August which urged Congress to tax the wealthy more.

In an interview with CNN, Buffett said the roughly $23m difference between his annual gross income and taxable income was due largely to deductions he took for charitable giving and local taxes.

According to CNN, two key reasons Buffett only paid 17.4% tax is because much of his income came from investments, which are taxed at a lower rate than wages, and because payroll taxes are assessed only on the first $106,800 of wages.