mariozivic
Joined 13 years ago
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13
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22
Member since
Sep 18
Co-founder and content responsible at TestDome.com
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Comment · 5 years ago
$0 for income tax as his salary is $0 and he funds his lifestyle by borrowing against shares he owns: https://www.wsj.com/articles/elon-musk-techs-cash-poor-billi...
Comment · 5 years ago
In the current low interest rate environment, I've heard that it's common for founders like Musk to borrow against their shares instead of selling shares. The difference is that they pay small interest rate but don't pay larger income tax by realizing their income.
Basically, the same thing that their companies used (or maybe still use) for avoiding high tax on repatriation or their non-US earnings.
Edit: Here's a proof but with different incentives (keeping control): https://www.wsj.com/articles/elon-musk-techs-cash-poor-billi...
Comment · 9 years ago
Unfortunately, I cannot find that article. IIRC, the loan never gets foreclosed. It's like the bank is receiving an interest as a fee for the service of tax-free repatriation. If I had time to analyze this further, I would take top 5 tech companies I compare their long term debts with their off-shore holdings (or estimates if not available).
Comment · 9 years ago
There was an article exlaining how they get that money back in U.S. tax-free. Something along the lines of geting a loan from the bank against deposit by their pardise subsidiary. Also, the money owned by the subsidiary is allegedly in NY bansk, not some small paradise banks.
Comment · 9 years ago
Exactly this. This is THE advanced feature I need.
Comment · 10 years ago
You don't need to invest in a foreign company to invest in a foreign market. Take a couple of US companies and see where their revenues come from geographically and diversify your holdings in that way.
Comment · 10 years ago
The example with ATMs happens in a lot of places I've been but I'll just list Japan as the most extreme example.
Comment · 11 years ago
Have a look at http://www.testdome.com
We have approached creating our content to be as work-relevant as possible. Our front-end questions address all the areas you mentioned.
Disclaimer: I'm co-founder of TestDome.