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Are you thinking perhaps of something like Harvard's endowment which was valued at $49.444 billion as of June 30, 2022. https://en.wikipedia.org/wiki/Harvard_U
by Ajay-p 2y ago
Are you thinking perhaps of something like Harvard's endowment which was valued at $49.444 billion as of June 30, 2022.
https://en.wikipedia.org/wiki/Harvard_University_endowment https://en.wikipedia.org/wiki/Harvard_University_endowment
- hedora 2y agoThat’s a non-profit, so no. Consider a billionaire that doesn’t work but has passive investments that pull in about $100M per year. They can borrow against the assets for close to 0%, or they could donate the gains to their own charities, keep the assets in shell companies that own hotels they live in, etc, etc. This 4% millionaire’s income tax won’t touch any of that.