jterrell
Penguinite
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I wish people understood how real money works.
Selling the team is the quickest way to lose a fortune.
The way they make the most money is keeping the team, paying their own and extended family members' salaries and living off fringe benefits of the business like the jets and LA mansions and NYC penthouses.
Selling for 8B is great but it will be taxed at an insane rate and none of them have write offs for that type of number. Want to get 1B in the sale and pay half a Bil in tax? then cool. sell.
Want to make 1M a year as a director of business operations and utilize company resources for pretty much everything? Thats real money and it stays in the family.
Jerry will likely have stipulations in his will about the team.
He will probably demand it stay in the family through his grandchildren at least.
I'm guessing he currently provides for around 20 family members via the business.
His 3 direct children are in their 50s and 60s already.
Jerry has Billions in other businesses. Land and oil/gas being massive money makers.
But other families... yes in a situation where the owner didn't have a role in the business but some son in law did it can get very heated. And then they do dumb things that cost a fortune in legal and tax fees.
Selling the team is the quickest way to lose a fortune.
The way they make the most money is keeping the team, paying their own and extended family members' salaries and living off fringe benefits of the business like the jets and LA mansions and NYC penthouses.
Selling for 8B is great but it will be taxed at an insane rate and none of them have write offs for that type of number. Want to get 1B in the sale and pay half a Bil in tax? then cool. sell.
Want to make 1M a year as a director of business operations and utilize company resources for pretty much everything? Thats real money and it stays in the family.
Jerry will likely have stipulations in his will about the team.
He will probably demand it stay in the family through his grandchildren at least.
I'm guessing he currently provides for around 20 family members via the business.
His 3 direct children are in their 50s and 60s already.
Jerry has Billions in other businesses. Land and oil/gas being massive money makers.
But other families... yes in a situation where the owner didn't have a role in the business but some son in law did it can get very heated. And then they do dumb things that cost a fortune in legal and tax fees.