Schemes used by Huang include the creation of private foundations and the use of charities.
For example, Huang transferred his NVIDIA shares to a foundation that avoids being taxed on capital gains.
In just one of the transactions, the value of shares increased from $7 million to $3 billion, while tax liabilities fell to a few hundred thousand dollars instead of $1 billion.
Another strategy is to donate shares to GeForce’s own charity.
This allows you to reduce taxes while maintaining control over funds. Today, the value of such donations exceeds $2 billion, and tax savings reach $800 million.
These methods have become standard among billionaires, calling into question the effectiveness of the US wealth tax system.
Source: Ferra
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
