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hartator | 1 month ago

Real answer are probably tax benefits for Ross.

He can now report a $100M donation, let it grow for 20 years, pay the actual donation, and pocket the remainder tax free.

discuss

order

the_sleaze_|1 month ago

It's called a grantor retained annuity trust (GRAT) and more than beng able to retain the initial investment at the end of a period of time, he would be able to take loans against the principal itself in the meantime (LALs).

However -

> The USPOC currently supports ~4500 athletes, or ~$22,222 each.

Machinations of the uber rich and the morality of them aside, they would've gotten nothing and now they're getting something.

ex-aws-dude|1 month ago

But if he retains the money while its growing wouldn't that result in capital gains?

You can't claim a donation while still holding onto the money?

conductr|1 month ago

He'll donate to a trust/non-profit he controls that will direct the investment. That allows him to take the tax benefit today and keep the money