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EeZTarget t1_jcl17x3 wrote

Reply to comment by [deleted] in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42

Yeah, because he was a co-founder of PayPal, he/company sold PayPal stock to himself for a fraction of a penny in his Roth. The initial $2000 IRA contribution grew to $5 billions tax-free.

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anonymous_lighting t1_jcnxxtt wrote

tough to blame him. built a company & sold

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EeZTarget t1_jco48sd wrote

I’m not blaming him. Just pointing out that he took advantage of a loophole in ROTH IRA to further enrich himself. None of us ordinary people is able to buy companies worth millions of dollars for $0.001 per share.

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