SuperPulp2789
Connoisseur.
- Joined
- Mar 21, 2024
- Messages
- 11,179
- Likes received
- 43,015
By distributing it, mainly. "The Family" can be obscenely wealthy, but no individual member is necessarily all that rich.
That and few people go the route of keeping a lot of showy capital. Most of the big players are more akin to the Buffet approach of investing the money as soon as they get it and living relatively quiet upper-middle-class lifestyles with upper-middle-class neighbors. While quite literally being able to buy their entire neighborhood if they felt like it.
That and keeping most of the assets directly within the business so on paper they really are "only" upper-middle-class.
It's the smarter approach anyway. See, if it's transferred to the business it gets taxed. And then if it's given directly to the owner, it gets taxed a second time. But so long as it remains in business coffers... it only gets taxed if it gets used for something that isn't a business expense.
You'd be astonished what any half-competent accountant can justify as business expenses.
You'd expect many to practically be celebrities though
But I guess they did the right thing NOT to make themselves into their own brands
Not sure how so many people never knew Klaus Schwab existed till he became a meme