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For the sake of correctness, Bezos is definitely not in a $500M jet. The only jet at that price is owned by a Saudi Prince. Also, the idea that Bezos and peopl
by CityOfThrowaway 5y ago
For the sake of correctness, Bezos is definitely not in a $500M jet. The only jet at that price is owned by a Saudi Prince.
Also, the idea that Bezos and people like him never sell stock is just completely wrong. This stuff is public record, you can look it up. Here’s an article that did it already [0]. Which means, yes, Bezos and all the other über rich pay taxes and don’t borrow money to avoid taxes until they die.
https://www.forbes.com/sites/rachelsandler/2021/06/24/heres-how-much-money-jeff-bezos-has-reaped-from-selling-amazon-stock/ https://www.forbes.com/sites/rachelsandler/2021/06/24/heres-...
- colejohnson66 5y agoAlso, if you borrow against a stock as collateral, that loan will come due eventually. Don’t you have to sell something to pay that money back?
- asdff 5y agoWith the credit rating Bezos has nothing stops him from getting another loan to pay the first. Plus the stocks he holds continues to gain value which means more collateral. Worst case investors dump money through him.
- nemothekid 5y ago>Also, the idea that Bezos and people like him never sell stock is just completely wrong. ProPublica did some pretty good investigating reporting showing that no, that idea is not "completely wrong". https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax https://www.propublica.org/article/the-secret-irs-files-trov...
- CityOfThrowaway 5y agoI said “never sell stock” is wrong. You read “never take loans against shares” which I didn’t say.