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There is also this: https://www.reuters.com/business/finance/renaissance-executives-pay-about-7-bln-settle-tax-probe-wsj-2021-09-02/ https://www.reuters.com/bus
by keithalewis 2y ago
There is also this: https://www.reuters.com/business/finance/renaissance-executives-pay-about-7-bln-settle-tax-probe-wsj-2021-09-02/ https://www.reuters.com/business/finance/renaissance-executi.... Fancy-pants maths and platitudes are not needed to make 20-40% returns when you are cheating the government out of taxes.
- cyrillite 2y agoWhy would the feat of generating those returns only count if it was net of tax?
- jjallen 2y agoMaking 60% a year would still be very high after tax. That’s why he accumulated many billions of dollars.
- keithalewis 2y agoIf you don't know exactly how someone made money you can make up any happy story you want.
- jjallen 2y agoWe know exactly how he made his money because there are decades of audited financial statements and a thorough review by the SEC after the Madoff fiasco
- keithalewis 2y agoRoyal We does not know exactly how he made his money. You are making up another Hero Worship happy story. It took until 2021 to settle his tax fraud case inspite of audited financials.
- keithalewis 2y agoThey would be more impressive if he wasn't the biggest tax cheat in US history.