2min chapter

My First Million cover image

#125 - What is the Buy, Borrow, Die Process?

My First Million

CHAPTER

Larry Ellison, Is That Your Ultimate Tech Bro?

Larry Ellison has a $10 billion line of credit and never pays income tax. He borrows against his assets to buy real estate or gold, then when he dies leaves the money to his children who don't have to pay inheritance tax on it. Elon Musk is living off a $500 million line of credit so that he doesn't have to sell any shares,. The shares of Tesla and SpaceX keep going up so he can keep borrowing more without ever selling his shares paying taxes on it.

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