Odd Lots The Ultra-Rich Are Building a Separate World Here on Earth
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Oct 10, 2024 
Atossa Araxia Abrahamian, author of "The Hidden Globe: How Wealth Hacks The World," delves into the phenomenon of ultra-rich enclaves like Dubai and Miami. She reveals how these cities tailor themselves with unique laws and tax incentives to attract wealth. The conversation explores the rise of offshore zones, transformation of freeports into art storage havens, and the controversial practices of wealthy entrepreneurs navigating legal loopholes. Abrahamian also discusses the implications of these parallel worlds on global wealth distribution.
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Geneva's Hidden World
- Atossa Abrahamian grew up in Geneva, a city she found both familiar and mysterious due to its international and stateless environment.
- This led her to explore the legal landscape of Geneva, describing it as "Swiss cheese" with hidden loopholes and mysteries like the Geneva Freeport.
Freeport's Evolution
- The Geneva Freeport, initially intended for temporary storage of goods like grain, evolved into a place for storing high-value items like art and gold.
- This shift changed its function from facilitating trade to potentially enabling tax evasion and asset concealment.
Intentional Loopholes
- The evolution of freeports from storing temporary goods to high-value items happened organically, not through deliberate state decisions.
- Newer freeports are intentionally designed for storing luxury goods and potentially facilitating money laundering.
