Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank
by vmception on Thursday June 24, 2021 @06:19PM
(#27624595)
These are the exact conversations I have with myself even doling out shares to my self directed 401k and private foundation
Here nothing abnormal or discounted occurred with the share price
The par value at formation time would have been that
- “Why, yes, Mr Thiel, I’d love to sell you some of my shares here for your fine tax shelter there, let’s say, hmm, 1.7 million shares.”
- “Aye, let’s do it then, Mr Thiel. Mind you though: you can only sell yourself up to $2000 worth, Mr Thiel, per year. Now say, Mr Thiel, how much are those shares there worth, you reckon, Mr Thiel?”
- “Well, Mr Thiel, I’ll write you receipt over $0.001 per share. What do you say, Mr Thiel?”
- “Very well, Mr Thiel, that sounds about right. $1700, of course, Mr Thiel, just under the $2000 limit, what a happy coincidence, Mr Thiel. You’re so savvy in valuing shares!”
- “Of course, Mr Thiel, thank you, always eager to help, Mr Thiel.”
- “The pleasure is all mine, Mr Thiel. We are so fortunate, are we not?”