Comment on Borrowing money against their stuff to get more stuff to borrow money...
satanmat@lemmy.world 3 hours agoIt’s complicated…
The estate pays the loans back, but as the assets appreciate, the loans are covered….
The trick is moving your assets around, so that you personally own very little, and they have trusts or LLCs that own the assets so there isn’t inherent tax liability
Shrug fuck us.
deHaga@feddit.uk 3 hours ago
Yachts don’t appreciate but yes, and inflation eats the debt so they win both ways.
satanmat@lemmy.world 3 hours ago
Boats (yachts)
A hole in the water into which one throws money…