4 ms·
Or maybe he off-shored the rest of his money? This < $100mil are the assets that are under his name and the rest are in tax havens/under different shell compani
by humanlion87 7y ago
Or maybe he off-shored the rest of his money? This < $100mil are the assets that are under his name and the rest are in tax havens/under different shell companies? Not sure whether that is possible. But it seems like rich people always have multiple ways of hiding their money.
- deleted 7y ago[deleted]
- pembrook 7y agoThis is a mid-century Hollywood myth that just won't die. Even when it was still possible to do so, a tiny, tiny minority of Rich Americans were actually evading taxes by hiding money overseas. Today, it's virtually impossible to hide money overseas as an American after FATCA and various other crackdowns unless you are willing to entirely give up your US citizenship. Since the $USD is the reserve currency of the world, the US government has enormous leverage in mandating foreign banks to report on the assets of every single US citizen with money abroad. In fact, foreign banks are so scared right now, many will refuse to even deal with Americans outright. It's a huge draconian nightmare for expats--99% of whom are not rich by any means. Ironically, if you're looking to do something nefarious, the best place to do so is actually right here in the US! Numerous states allow you to create anonymous corporations and trusts.
- JohnJamesRambo 7y agoHave you ever heard of the Panama Papers?
- Mvandenbergh 7y agoThe above is the reason why there were very few Americans in those papers. They're not worth the risk.