Although President Donald Trump claims interest in Greenland, Bill Gates, Jeff Bezos, and Sam Altman might've already invested in a 'Freedom City' there.
Somebody said that the Bill and Melinda Gates Foundation is a way for him to funnel money to his children without paying taxes, and that the disease fighting stuff is just a side benefit.
I mean, the thing is that a donation to philanthropy is tax deductible, so even if you control the charity 100%, it counts. Instead of paying taxes, you’re just paying yourself. And once it’s in that charity, you can use that money for any charitable cause, even if that cause benefits the non-charitable side of your portfolio. This means that you can
pay for your own PR
use the charity money to buy a bunch of medicine to eradicate some disease, while you have investments in the pharma company that will provide said medicine
donate to academia to steer research goals and then become a early investor in any spinoff companies that result from that
donate to a charity run by a politician/other rich person to curry favour
It’s not a coincidence he’s become richer despite ‘donating his wealth’.
Somebody said that the Bill and Melinda Gates Foundation is a way for him to funnel money to his children without paying taxes, and that the disease fighting stuff is just a side benefit.
I mean, the thing is that a donation to philanthropy is tax deductible, so even if you control the charity 100%, it counts. Instead of paying taxes, you’re just paying yourself. And once it’s in that charity, you can use that money for any charitable cause, even if that cause benefits the non-charitable side of your portfolio. This means that you can
It’s not a coincidence he’s become richer despite ‘donating his wealth’.