Since this is a ProPublica financial reporting scoop, I assume the answer is something incredibly sinister and complicated like "closed the IRA, folded the money into an existing 4.999994 billion dollar account"
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The answer appears to be "put investments into a Roth that then did very well". Incredibly sinister indeed.
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Replying to @kendrictonn @joelgrus
Given that ProPublica reporters understand basic finance about as well as my cats, I stand by my answer. I don't think you can trust them to read a statement or remember the names of things.
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I mean, yes. But afaict it's literally just "had pre IPO PayPal, and put it in a Roth". Not even as complicated as your proposal.
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steelmanning the prog take on this, it's: * Thiel KNEW it was gonna be worth a ton in the future * Thiel was in a position to make decisions as to what it's book value was * Thiel violated ethics / norms / fair play / the unicorn and icecream for everyone clause of US Const >>>
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... and declared that shares of PP were worth $0.01 each when he knew - HE KNEW !!! - that they were really worth much more. * this false valuation let him slip 100x as many shares into his Roth * ...and IRAs are suspect and bad anyway bc they let the wealthy avoid taxes
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