To escape the taxman, ultrawealthy Americans are ditching their citizenship at record rates.
In January, New Zealanders were surprised to discover that Peter Thiel, the billionaire PayPal co-founder and Donald Trump adviser whose libertarian proclivities and social quirks were lampooned on hbo’s Silicon Valley, had quietly become one of them during a 2011 ceremony in Santa Monica, California. Thiel, who owns real estate in New Zealand, secured an exception from the country’s residency requirement by emphasizing his business and philanthropic clout, his investments in two Kiwi companies (totaling $7 million), and his donation of nearly $1 million to a local earthquake relief fund. “We do not sell our citizenship; it is earned,” New Zealand’s Ministry of Internal Affairs claimed after the news broke. Subsequent reports speculated that Thiel, besides being a huge Lord of the Rings fan, viewed the country as a survivalist haven in the event of an apocalypse. “I have found no other country that aligns more with my view of the future” is all Thiel would say.
Thiel’s little secret came as no surprise to David Lesperance. The Canadian-born lawyer is among the world’s leading champions of transnational exit plans for the superwealthy. Business is booming. Lesperance says he has expatriated more than 300 ultrarich Americans to date— he calls them “golden geese”—and has set up contingency plans for countless others. Thiel is not a client, but Lesperance says several household-name techies are. Mad Max scenarios aside, their goal is tax avoidance. If that means giving up an American passport, so be it.
Bu hikaye Mother Jones dergisinin May/June 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mother Jones dergisinin May/June 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Data Blockers- Overturning Roe didn't just bludgeon abortion access. It sabotaged science, too.
Overturning Roe didn't just bludgeon abortion access. It sabotaged science, too. In early May 2022, reproductive health researcher Liz Mosley was at a dinner celebrating her first day as an assistant professor at the University of Pittsburgh School of Medicine when the news broke: A leaked draft of the Dobbs decision revealed the Supreme Court’s plan to gut abortion rights in the United States—the “worst-case scenario,” as one dinner guest put it.
Growing Pains - Why are governors rejecting funds for kids' summer meals?
The Summer Electronic Benefit Transfer Program for Children (EBT), the first new federal food aid initiative in decades, is a permanent extension of Congress’ Covid-era relief that sought to provide extra meals for more than 30 million school kids who qualify for free or reduced-price lunches. But more than 10 million children will miss out this summer, according to the USDA. Thirteen other states—Alabama, Alaska, Florida, Georgia, Idaho, Louisiana, Mississippi, Oklahoma, South Carolina, South Dakota, Texas, Utah, and Wyoming—also chose not to enroll. And they all have something else in common: Republican governors.
Mission from God. Church And Statehood– A new Puerto Rican political party puts faith before status.
A new Puerto Rican political party puts faith before status. Puerto Rico’s churches, which in recent decades were mostly confined to private life, are now reshaping political dynamics. Proyecto Dignidad is a reflection of a broader populist global trend, and it draws inspiration from the Trump playbook and other domestic right-wing currents that helped him win over significant numbers of Latino voters in 2020.
40 Acres and a Lie
We compiled Reconstruction-era documents to identify 1,250 formerly enslaved Black Americans given land-only to have it returned to their enslavers.
The Conversion Therapist Will See You Now
The counselors once discredited for their "ex-gay" theories have rebranded. And now they're coming after trans kids.
"I Hope My Hindsight Will Be Others' Foresight"
A decade after Elliot Rodger's horrific massacre, his mother is on a quest to help threat assessment experts-and other parents-prevent the next tragedy.
RAGING BULL DONALD TRUMP'S PUGILISTIC SPOKESMAN HAS TAKEN CAMPAIGNING TO A WHOLE NEW LEVEL OF LOW.
IN late February, after Donald Trump had nearly vanquished the entirety of the Republican primary field, his spokesman, Steven Cheung, took aim at the one opponent still standing. \"Birdbrain, are you a liar or just plain stupid?\" he posted on X.
SAVED
Finding self-love after Christian conversion therapy
WHAT WE ARE OWED
Technology and genealogy have made the case for reparations specific-and undeniable.
PARADISE STOLEN
Black families were cheated out of their land on Skidaway Island. Now it's a wealthy white enclave