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Twitter is buying the stock back from him at $0. You can't just donate stock to a company. That stock's nominal value is $200,000,000. So he takes a loss of
by gsibble 11y ago
Twitter is buying the stock back from him at $0. You can't just donate stock to a company. That stock's nominal value is $200,000,000. So he takes a loss of $200,000,000 which he can write off against any gains he gets from Square's sale.
- corysama 11y agoOption 1) $200MM loss today, $200MM gain tomorrow, $0 taxes in April. Net result: $0 Option 2) Keep your $200MM today, $200MM gain tomorrow, $70MM taxes in April. Net result: +$130MM Why would anyone want Option 1?