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0 pointslbreakjai1mo ago0 comments

Ultra-wealthy individuals aren't holding that much directly. That's what family offices or similar constructs are for.

I work in a family office. The owner is worth around 700 millions. I wouldn't be surprised if he didn't have more than a house and a car to his name, on paper.

0 comments

JumpinJack_Cash1mo ago

The rationale is that you cannot startup with your family office or foundation at the helm of the company because of costs etc.

So if you hit it big you are trapped with the stock in your name and with this unrealized gains system

j / k navigate · click thread line to collapse

0 pointslbreakjai1mo ago0 comments

Ultra-wealthy individuals aren't holding that much directly. That's what family offices or similar constructs are for.

I work in a family office. The owner is worth around 700 millions. I wouldn't be surprised if he didn't have more than a house and a car to his name, on paper.

0 comments

JumpinJack_Cash1mo ago

The rationale is that you cannot startup with your family office or foundation at the helm of the company because of costs etc.

So if you hit it big you are trapped with the stock in your name and with this unrealized gains system

j / k navigate · click thread line to collapse