Tech Billionaires Hack Their Taxes with a Philanthropic Loophole

Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by elchief on Sunday August 05, 2018 @02:34PM (#17692730)

Ya my old boss did this (the family foundation style). He was worth about $500M at the time I knew him. And ran his little "charity" that gave away 5% a year

Meanwhile all that money was managed by some hedge fund and was making 30% returns (this was '08, right before the Great Recession)

He owned the most expensive house in the Hamptons and had a private jet and complained about all the sycophants

We did get catered lunches by his personal chef every day at work, so I'm not complaining...

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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by greedo on Sunday August 05, 2018 @04:03PM (#17693212)

Despite your disclaimer, you are complaining. The scare quotes around charity, the cost and location of his house, his private jet, and his complaint about sycophants; none have to do with the NYT article, just an anecdote from you with your complaints.

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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by downandout on Sunday August 05, 2018 @02:53PM (#17692814)

Meanwhile all that money was managed by some hedge fund and was making 30% returns (this was '08, right before the Great Recession)

If the charity was making 30% returns, how is that a bad thing? Those gains don't flow back to the donor.

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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by elchief on Sunday August 05, 2018 @02:55PM (#17692827)

I wouldn't say it's a bad thing. Just contrasting it to the 5% outflow

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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by throwaway76543 on Sunday August 05, 2018 @03:32PM (#17693037)

Your objection is that he earned a 30% return and only donated 5%?

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