Warren Buffett’s Berkshire Hathaway is about $11.5 billion richer, thanks to Bank of America.

Buffett’s firm pulled the trigger on a 2011 options deal that lets it buy 700 million shares — at a 70 percent discount to its share price — all for bailing out the bank when it was facing questions about its soundness.

“In 2011, we welcomed Berkshire Hathaway as a shareholder, and we appreciate their continued support now as our largest common shareholder,” Brian Moynihan, BofA’s CEO, said in a statement.

Buffett already had a $5 billion stake in the bank, and his Tuesday move raises the total value of his shares to $16.5 billion, or about 7 percent of the company.

In June, Berkshire announced it would exercise warrants that allowed it to purchase the shares at $7.14, the price of the stock in 2011 when the deal was struck.

With shares trading at $23.58 at the end of the day Tuesday, the deal nets Berkshire about $11.5 billion.