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Peter Thiel Has Amassed $5B in His Tax-Free Roth IRA: ProPublica

17 points by nceqs3 5y ago

detaro 5y ago
> Please submit the original source. If a post reports on something found on another site, submit the latter. The ProPublica article already has a discussion: https://news.ycombinator.com/item?id=27616090 https://news.ycombinator.com/item?id=27616090
not2b 5y ago
"Thiel placed into the account 1.7 million shares of then-private PayPal, which were valued at just $0.001 per share." His share of PayPal was worth $1700? What nonsense. As as the limit was $2000 and the value of stock in a private company is just made up, not based on what a buyer will pay since you can't buy, it's nonsense. Putting stock of a private company into a Roth IRA never should have been allowed.