The five flag theory: how the ultra-wealthy navigate taxes and borders
In the 1960s, financial experts with a liberal approach came up with a strategy that allowed the affluent to operate beyond the control of any one government. Harry Schultz, for instance, claimed he charged clients $2,000 an hour, advising them on obtaining second passports, finding tax shelters, and keeping their wealth offshore. This concept eventually […]
Two companies collaborate to expand access to private credit opportunities beyond the ultra-wealthy
New ETF for Private Credit Access A new partnership aims to broaden access to private credit, an asset class that’s been growing for retail investors. Simplify Asset Management and Vettafi introduced their new Simplify Vettafi Private Credit Strategy ETF (PCR) this Wednesday. Paisley Nardini, managing director, mentioned during an interview on CNBC’s ETF Edge that […]
Biden warns of ‘ultra-wealthy’ ‘oligarchy’ as Big Tech CEOs warm to Trump
In his farewell speech, President Biden said that despite his administration's acceptance of donations from Democratic mega-donors, CEOs of major technology companies have grown closer to President-elect Trump in recent months. He warned of an “oligarchy” of “ultra-rich people” that poses a threat to the United States. . Elon Musk, Jeff Bezos and Mark Zuckerberg […]
Law Prof Questions If Constitution Should Be Amended To Silence ‘Ultra-Wealthy’ Like Elon Musk
Rick Hasen, a law professor at the University of California, Los Angeles, said Monday that a constitutional amendment is needed to address campaign involvement by “ultra-wealthy individuals” like Tesla CEO Elon Musk. I wondered. Mr. Musk has donated money to America PAC, a super PAC aiming to boost former President Donald Trump in Michigan, Pennsylvania, […]
‘I’ll Lose Friends For This”: Ultra-Wealthy Former Dem Donor Cuts Massive Check To Trump After Conviction
Ultra-wealthy Sequoia Capitol partner and former Democratic donor Sean Maguire announced he was donating $300,000 to former President Donald Trump’s campaign on Thursday night after his guilty plea was announced. Maguire published a Twitter post and article about his public decision to pledge a large donation to President Trump, explaining why he was “prepared to […]