Bob Lord details how SEC rule change added $55 billion to Page and Brin's wealth
1 report, 1 independent
Updated Wed 00:00
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What happened
Bob Lord joined the Institute for Policy Studies. In a recent article, Lord detailed how a 1982 SEC rule change contributed $55 billion to the wealth of Larry Page and Sergey Brin. He stated that this ability to avoid taxes allows them to compound earnings while they spend money opposing new wealth tax proposals.
From wortfm.org
Why it matters
The article highlights how tax avoidance mechanisms have turbocharged extreme wealth concentration in America. This discussion relates to ongoing political and financial conflicts between Sergey Brin and Gavin Newsom regarding wealth taxation and policy initiatives.
From wortfm.org
Who's involved
- Bob LordAuthor of the article detailing wealth accumulation methods for Page and Brin
- Larry PageSubject of the article regarding wealth accumulation through stock buybacks
- Sergey BrinSubject of the article regarding wealth accumulation and political conflict
Keep exploring
The entities involved
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Larry Page
American computer scientist and Internet entrepreneur (born 1973)
Nothing else this week.
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Sergey Brin
American billionaire businessman (born 1973)