Thiel makes billions all tax free

[Toddsterpatriot]

I do. However our stupid incompetent government shouldn’t allow this.

Why not? There are contribution and income limits.

Apparently not. He invested $2k and made $5 billion. All tax free. Yippee!!!

Apparently not.

There are, really.

He invested $2k

Like I said, contribution limits.

View attachment 507146

Read and get educated for once.


The late Sen. William Roth Jr., a Delaware Republican, pushed through a law establishing the Roth IRA in 1997 to allow “hard-working, middle-class Americans” to stow money away, tax-free, for retirement. The Clinton administration didn’t want to give a fat tax break to wealthy people who were likely to save anyway, so it blocked Americans making more than $110,000 ($160,000 for a couple) per year from using them and capped annual contributions back then at $2,000.

Yet, from the start, a small number of entrepreneurs, like Thiel, made an end run around the rules: Open a Roth with $2,000 or less. Get a sweetheart deal to buy a stake in a startup that has a good chance of one day exploding in value. Pay just fractions of a penny per share, a price low enough to buy huge numbers of shares. Watch as all the gains on that stock — no matter how giant — are shielded from taxes forever, as long as the IRA remains untouched until age 59 and a half. Then use the proceeds, still inside the Roth, to make other investments.
Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank

Open a Roth with $2,000 or less.

Bastard!

Then use the proceeds, still inside the Roth, to make other investments.

I know, he was the first outside investor in Facebook.

So how can we, everyday people, do something similar even if we're not the founder of the next billion-dollar company?

How the average investor can apply Thiel's strategy​

The short answer is, we can't. Not exactly, anyway. Most Americans who invest in Roth IRAs will never be able to buy shares in tiny, privately held startup companies for fractions of a penny, like Thiel did. The vast majority of us are shopping the open market and investing in ETFs, index funds, mutual funds, and individual, publicly traded companies.
I asked financial advisors how everyday people can build wealth in a Roth IRA, the account PayPal founder Peter Thiel used to turn $2,000 into $5 billion

So what if he got a sweetheart deal and avoided taxes on a massive profit, that 99.9% of Americans could never attain.

So thinks the dumb con.

Is that why you're so miserable?
Because Thiel has so much money in his Roth?

 

[my2¢]

he bought 1,700,000 shares of Paypay at .001 or something like that

Yep, I wondered what was basis of his wealth and a quick web search:

Peter Andreas Thiel is a German-American billionaire entrepreneur and venture capitalist. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook. Wikipedia

Getting in on the ground floor, the bigger the risk the greater the reward.

 

[gipper]

Is that why you're so miserable?
Because Thiel has so much money in his Roth?

Isn’t this just fantastic news???

It’s great to be rich in a Fascistic crony capitalist state who’s government does all it can to benefit and protect the ultra wealthy. YIPPEE!!!

In 2020, top CEOs earned 351 times more than the typical worker​

Published Wed, Sep 15 20211:12 PM EDT


The CEO-to-worker pay gap has expanded exponentially over the past several decades.

The Economic Policy Institute (EPI) estimates that CEO compensation has grown 1,322% since 1978, while typical worker compensation has risen just 18%. In 2020, CEOs of the top 350 firms in the U.S. made $24.2 million, on average — 351 times more than a typical worker.
In 2020, top CEOs earned 351 times more than the typical worker

 

[Toddsterpatriot]

Isn’t this just fantastic news???

It’s great to be rich in a Fascistic crony capitalist state who’s government does all it can to benefit and protect the ultra wealthy. YIPPEE!!!

In 2020, top CEOs earned 351 times more than the typical worker​

Published Wed, Sep 15 20211:12 PM EDT


The CEO-to-worker pay gap has expanded exponentially over the past several decades.

The Economic Policy Institute (EPI) estimates that CEO compensation has grown 1,322% since 1978, while typical worker compensation has risen just 18%. In 2020, CEOs of the top 350 firms in the U.S. made $24.2 million, on average — 351 times more than a typical worker.
In 2020, top CEOs earned 351 times more than the typical worker

In 2020, top CEOs earned 351 times more than the typical worker​

The CEOs of huge multi-national corporations make a lot more than the typical worker?

That's awful!

 

[gipper]

In 2020, top CEOs earned 351 times more than the typical worker​

The CEOs of huge multi-national corporations make a lot more than the typical worker?

That's awful!

I knew I could on you trying justify injustice.

 

[Toddsterpatriot]

I knew I could on you trying justify injustice.

Injustice? LOL!

Combined, they make about $8.5 billion. All your whining for $8.5 billion?

Yawn.

 

[CarlinAnnArbor]

Isn’t this just so nice? Buy stock within your Roth IRA and all the gains are tax free.

What a country!

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000​

Last Updated: June 24, 2021 at 3:22 p.m. ET
First Published: June 24, 2021 at 12:16 p.m. ET
By

Alessandra Malito​

His account jumped more than $3 billion in just three years, even though he didn’t contribute money to his Roth after 1999​

How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000

Good for him