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Still leaves him with just over $1 billion, enough for his great great grandchildren to live comfortably forever. Don’t be fooled, this is about tax breaks, not charity. Once you have over a billion in wealth, you’ve won the game of life. There’s nothing you can’t buy, there’s nothing you can do.
More like the game of 100 lives. I'm using $10m as a gross estimation for what a person living comfortably needs to spend throughout their whole life. Sure it varies by country and other factors, but this amount should more than cover a lifestyle in which you literally don't need to worry about a thing. No need for sketchy investments either: just stuff it in a deposit and you could live off the interest alone, but that's assuming you have all the money at once.
Truly a financial genius to give up 99% of his wealth for tax breaks...
I figure he donates to his own charity and still has a lot of control over the money either way.
I wonder what thatd look like on his taxes.
Is it really about tax breaks, when the US doesn't have a wealth tax? Would it prevent his children from dealing with inheritance tax?