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How the ultra rich get rich and avoid taxes LEGALLY.
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Key takeaways
- Mind you, this is a minority stake in your business and a bank will finance your employees backstopping that debt with the equity that you sell them.
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Abschnitt 1 how the ultra rich get rich and avoid taxes legally.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00how the ultra rich get rich and avoid taxes legally. An ESOP is an employee stock ownership plan where you sell between 33 and 49%. Mind you, this is a minority stake in your business and a bank will finance your employees backstopping that debt with the equity that you sell them. Then the bank gives them the loan to pay you for the stock you gave them. It's kind of how it works. You can help your employees get wealthy. You get a tax-free check. You just traded the equity and you get cash for what you gave the employees, but you still own the asset and so the asset is still worth what it is in the private realm. So if you add those two things together, you still have a billion dollars, but you get the liquidity and you keep the control. This payment at least in our tax laws is taxfree.