It is something that rich people do to show they are a philanthropist by selling shares of their company or donating them to the charity or organization they co

It is something that rich people do to show they are a philanthropist by selling shares of their company or donating them to the charity or organization they control and their children will inherit. It goes way back over the years to the Rockefeller family and others. Not only is it a tax shelter, they can control what the charity or whatever does. It is a good way to avoid paying a capital gains tax by donating shares to their own charity or organization. A pity the taxes on the shares could have been collected by the federal government and used to pay off our national debt or create some good paying jobs. People who aren't billionaires have to pay a capital gains tax if they sell shares that have a value more than the original investment.