Re:Leaked phone number of Mark Zuckerberg reveals he is on S...
by vmception on Tuesday April 06, 2021 @06:31AM
(#26710230)
You know actually there are additional benefits and privileges of this.
In tax-exempt organizations or any organization with "self-dealing" prohibitions, you can still get any benefit you want with asset prices.
So for example, your own private foundation can own all the houses around yours (and be rented if so desired) and be sold strategically to give newer indications of market value for your own house. Sell them all at once and you may be cratering market values for your personal property, or you may be raising the property value, but as long as the funds come from the market and you don't have a self-dealing prohibition. Your personally held property being eligible for contribution to that foundation too (or other tax exempt organization type that you might not have any control over), with its current value being a consideration. Although Zuckerberg famously has an LLC that is not tax-exempt for their philanthropic missions, it doesn't mean he/they don't have any tax-exempt organizations, and they're definitely not precluded from forming or using one in the future and transferring those assets when convenient.
Yes, you also have the privilege of aiming to get more privacy.
Latching on to any one thing just reveals how little privilege you have in comparison. Many other people wouldn't talk about it, as they employ similar strategies.
In tax-exempt organizations or any organization with "self-dealing" prohibitions, you can still get any benefit you want with asset prices.
So for example, your own private foundation can own all the houses around yours (and be rented if so desired) and be sold strategically to give newer indications of market value for your own house. Sell them all at once and you may be cratering market values for your personal property, or you may be raising the property value, but as long as the funds come from the market and you don't have a self-dealing prohibition. Your personally held property being eligible for contribution to that foundation too (or other tax exempt organization type that you might not have any control over), with its current value being a consideration. Although Zuckerberg famously has an LLC that is not tax-exempt for their philanthropic missions, it doesn't mean he/they don't have any tax-exempt organizations, and they're definitely not precluded from forming or using one in the future and transferring those assets when convenient.
Yes, you also have the privilege of aiming to get more privacy.
Latching on to any one thing just reveals how little privilege you have in comparison. Many other people wouldn't talk about it, as they employ similar strategies.