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For those wondering about the Tax issue, I doubt that is the case because of: http://sivers.org/trust http://sivers.org/trust He put the company into a charita
by noahc 14y ago
For those wondering about the Tax issue, I doubt that is the case because of: http://sivers.org/trust http://sivers.org/trust
He put the company into a charitable trust, which isn't ever taxed except for on what he receives from the trust, which is set to the lowest amount possible.
- patrocles 14y ago~20M dollar exit; in the US, trusts have to pay out 5% per year; he has a ~1M income provided the trust invests well.
- noahc 14y agoMy understanding is that ~1M a year isn't enough to justify most people loosing their US citizenship over. However, Derek isn't exactly most people. My general sense on the issue is that money, in particular taxes, is something Derek worries about.
- noahc 14y agojust noticed this. I wanted to say, "Not something he cares about"