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The restriction is one of: $1 million net worth (excluding primary residence), or $250k/yr income. You meet that floor, you can buy private shares on secondary
by tadfisher 2y ago
The restriction is one of: $1 million net worth (excluding primary residence), or $250k/yr income. You meet that floor, you can buy private shares on secondary markets. I don't think it's a loophole to pool accredited investors into a company, it's called a private equity firm :)
- nradov 2y agoThe loophole is that regular people can become "accredited investors" by simply lying. In most cases no one actually checks the numbers they write down for assets and income. I am not recommending committing fraud here, but this is extremely common.
- immibis 2y agoThat's why you either die the hero or live long enough to become the villain: villain tactics *work* - that's why they do them!