Democrats want us to believe that there is some cohort of “good billionaires” who can be relied upon to fight for political progress. But as the right-wing turn of tech billionaires like Mark Zuckerberg and Elon Musk suggests, this is nonsense.
It’s usually in shares of their very highly valued company which they can’t give up because they wouldl give up control.
To be that guy, they still can access the wealth provided by those shares without liquidating them. That’s exactly what they do too. They use shares as leverage to obtain loans, and then they spend the loan money. It’s called the “buy borrow die” strategy and they also use it to avoid taxes because loans aren’t considered income.
To be that guy, they still can access the wealth provided by those shares without liquidating them. That’s exactly what they do too. They use shares as leverage to obtain loans, and then they spend the loan money. It’s called the “buy borrow die” strategy and they also use it to avoid taxes because loans aren’t considered income.