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> But it seems like paying someone who isn't working isn't a great use of money. He and Twitter agreed to structure the buyout of his firm as income for tax re
by enragedcacti 4y ago
> But it seems like paying someone who isn't working isn't a great use of money.
He and Twitter agreed to structure the buyout of his firm as income for tax reasons so even if he didn't do a single ounce of work for twitter his entire tenure it would have been money well spent for no other reason than the time value of money. Common sense and reading between the lines a bit it seems like his contract stipulates that Twitter now owes a lump sum.
https://en.wikipedia.org/wiki/Haraldur_Ingi_%C3%9Eorleifsson https://en.wikipedia.org/wiki/Haraldur_Ingi_%C3%9Eorleifsson
https://twitter.com/iamharaldur/status/1632915201652662276 https://twitter.com/iamharaldur/status/1632915201652662276
- ahahahahah 4y ago> agreed to structure the buyout of his firm as income for tax reasons I expect most people will infer the wrong thing here. To be clear, those "tax reasons" were that he wanted to maximize the amount of tax he would pay. > an agreement between him and Twitter, most of the purchase price was paid as salary to maximize the tax he would pay for the sale in Iceland, he chose to pay for tax out of respect to Iceland for the disability benefits he received. Per the agreement, he paid the second highest tax of an individual in Iceland in 2021.
- enragedcacti 4y agoThanks! the way I wrote it does give off the wrong impression.