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>The problem would then become people using their corporations to make all of their purchases. Their corporations would own their yachts, their houses, their cars, etc.

This is illegal.

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It's illegal if it's provably done for personal use. But when you have money, you can create a legitimate company with a legitimate reason to have a yacht. Perhaps the yacht is essential to your meetings with other high net worth individuals, to discuss important business. When your friends all have $10-100M, the lines between business and personal events are constantly blurred.

Take a real life example. Look at Bill Perkins. He live streams poker from his boat. The boat is essential for setting the atmosphere for the live stream. Look at Tai Lopez. He purchases / rents luxury vehicles and residences to portray himself as successful, which is important to his brand. So where do you draw the line?

>> The problem would then become people using their corporations to make all of their purchases. Their corporations would own their yachts, their houses, their cars, etc.

> This is illegal.

Citation, please.

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