That's more what Soros is doing.
Edit: since I'm being down voted to hell, here's my source
https://www.wsj.com/amp/articles/george-soros-transfers-18-b...
WSJ is biased in general but their reporting of tax loopholes here is legitimate. Avoids accumulated capital gains tax on all transferred assets. $18B in gross assets.
I am happy to hear counter arguments of how this is not a foundation based tax dodge / tax shelter.
Here is my source. WSJ is biased in general but their reporting of tax loopholes here is legitimate. Avoids accumulated capital gains tax on all transferred assets. $18B in gross assets.
http://www.econtalk.org/archives/2017/09/rob_reich_on_fo.htm...
Transcript at the bottom. Coincidentally, Reich offers anecdote regarding Soros and taxes at about 30 minutes into interview. However, I'm posting this for its general coverage of the topic. (edited to clarify)
Soros has the same power to get his money back as you do when you write a cheque to Amnesty International, i. e. none.
So yes, he's saving 50 cents in taxes for every $1 he gave to philanthropic causes. It's really nothing special or scandalous.