Giving all your money away to "charity" is how rich people hide all their money. I work in the estate planning industry - they create a foundation (non-profit). They then gift all the money to the foundation while maintaining control of the foundation, which gives them a cushy salary and all expenses paid. The money becomes tax-free to use and receive. They still hold control and benefit all the while like looking like some saint in the process.
Just watch which foundations he gives this too...
Giving all your money away to "charity" is how rich people hide all their money. I work in the estate planning industry - they create a foundation (non-profit). They then gift all the money to the foundation while maintaining control of the foundation, which gives them a cushy salary and all expenses paid. The money becomes tax-free to use and receive. They still hold control and benefit all the while like looking like some saint in the process. Just watch which foundations he gives this too...