News for hackers. Stuff that matters.

A comment on Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank. Parent comment

Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by et-al on Thursday June 24, 2021 @06:19PM (#27624597)
There is actually something millionaire specific about what Thiel did. He was an accredited investor that was able to buy private shares that the general public cannot buy.

If IRAs were only allowed to purchase publicly-listed stock, this wouldn't have happened.

[ Parent | on HN ]
Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by Scoundreller on Thursday June 24, 2021 @06:34PM (#27624787)
Which also gives the accredited investors another advantage: with less capital available, the valuations are inherently depressed.
[ Parent | on HN ]