3 ms·
Saw the clickbait-y headline and thought, "ok, so how did he escape paying taxes? some clever trick"? I assume the tax on the deal was hefty so while nice payo
by GreaterFool 10y ago
Saw the clickbait-y headline and thought, "ok, so how did he escape paying taxes? some clever trick"?
I assume the tax on the deal was hefty so while nice payout it certainly isn't "every penny".
- Jarwain 10y agoWell tax is applied anyways, whether it all goes to a single person or is split among multiple founders. Every penny is hyperbole, but gets the point across; he didn't have to split the profit with anyone else.
- cpncrunch 10y agoOP was just pointing out that the title is inaccurate/misleading. He didn't get to keep every penny as he will have to pay about $137M in tax if my calculations are correct.
- deleted 10y ago[deleted]
- deleted 10y ago[deleted]
- tedmiston 10y agoIt seems reasonable to assume anyone receiving cash from acquisition would have to pay taxes on it...
- x1798DE 10y agoWhich is why it would be news if they got to keep every penny...
- jba 10y agoIf nothing else, he held his equity for long enough to only get hit by long-term capital gains taxes. (per wikipedia, in canada, that's half your typical tax rate).