Posted on

La era del espacio como negocio ha comenzado

El aniversario del alunizaje del Apolo 11 marcó un pequeño paso para los viajes espaciales, pero un gran salto para los multimillonarios con empresas espaciales.Este mes, Jeff Bezos y Richard Branson demostraron de manera vívida que al parecer es seguro, y sobre todo divertido, elevarse hasta los confines del cielo. Este planeta tiene tantos problemas que es un alivio escapar de él, aunque sea durante 10 minutos, que fue más o menos el tiempo de los viajes suborbitales que ofrecieron los empresarios a través de sus respectivas compañías, Blue Origin y Virgin Galactic.Pero más allá de la estupefacción había un …

Read More

Posted on

The Amazonification of Space Begins in Earnest

The anniversary of the Apollo moon landing marked one small step for space travel but a giant leap for space billionaires.Jeff Bezos and Richard Branson vividly demonstrated this month that soaring up to the near reaches of the sky appeared safe and, above all, a lark. The planet has so many problems that it is a relief to escape them even for 10 minutes, which was about the length of the suborbital rides offered by the entrepreneurs through their respective companies, Blue Origin and Virgin Galactic.But beyond the dazzlement was a deeper message: The Amazonification of space has begun …

Read More

Posted on

Artist David Choe on His New FX and Hulu Show

An hour into our interview, the artist David Choe admits that he lied about something.He said he had turned down two offers to do a television show many years ago, one from the producer Scott Rudin, the other from the celebrity chef Anthony Bourdain. He had said the same thing during his first burst of media attention nearly 10 years ago; and he said it again during a Zoom call last week from his home in the Los Feliz neighborhood of Los Angeles.Mr. Choe, a street artist known for his colorful and explicit imagery, became known outside the art …

Read More

Posted on

MacKenzie Scott Donates $2.74 Billion to 286 Organizations

MacKenzie Scott promised she would give her fortune away “until the safe is empty.” That has proved to be harder than expected.Ms. Scott made that pledge in 2019, after her divorce from Jeff Bezos. At the time, her portion of the settlement, some 4 percent of Amazon shares, was valued at around $36 billion.Thanks to the soaring value of that stock, Ms. Scott is accumulating wealth faster than she can give it away. Though she has donated more than $8 billion over the past 11 months, primarily through direct gifts to nonprofits, today she is richer than ever, worth some $60 billion, according to …

Read More

Posted on

How Private Equity Firms Avoid Taxes

There were two weeks left in the Trump administration when the Treasury Department handed down a set of rules governing an obscure corner of the tax code.Overseen by a senior Treasury official whose previous job involved helping the wealthy avoid taxes, the new regulations represented a major victory for private equity firms. They ensured that executives in the $4.5 trillion industry, whose leaders often measure their yearly pay in eight or nine figures, could avoid paying hundreds of millions in taxes.The rules were approved on Jan. 5, the day before the riot at the U.S. Capitol. Hardly anyone noticed. …

Read More

Posted on

Plan to Revive I.R.S. ‘Wealth Squad’ Puts the Richest on Notice

Right now, the key for filers is to make sure their tax return tells a consistent story, he said. If that story changes — say, when a lawyer becomes an equity partner in a law firm and gets different tax documents — then the filer needs to be ready to provide supporting documents to back up the new tax story.“Changes are going to trigger scrutiny,” he said. “And when there’s a change in the filing profile, that creates risk.”Regardless of what was done in the past, some practices are going to need to change. As a start, one set …

Read More

Posted on

ProPublica Report Has Congress Rethinking How to Tax Superrich

WASHINGTON — A jaw-dropping report by ProPublica detailing how America’s richest men avoided paying taxes has intensified interest in Congress, even among some Republicans, in changing the tax code to ensure that people like Jeff Bezos and Warren Buffett pay their fair share.For Republicans, the idea that the tax code should give preferential treatment to investment has been sacrosanct, ostensibly to promote economic growth and innovation that could benefit everyone. But the news this week showed how the treatment of stocks, bonds, real estate and huge loans taken off those assets has sent the tax bills of the richest …

Read More

Posted on

How Long Should It Take to Give Away Millions?

Ms. Madoff and others pushing for change see a growing gap between reputation-burnishing promises of money and distributions to people who need it. The Giving Pledge, which was started by Bill Gates, Melinda French Gates and their friend and collaborator Warren E. Buffett, gave billionaires a space where they could announce their intention to give away half their fortunes or more, often to great acclaim. But it provides no mechanism to monitor or ensure the giving actually happens.Earlier this year, the Chronicle of Philanthropy ranked Jeffrey P. Bezos, the founder of Amazon, as the top philanthropist of 2020 because he …

Read More

Posted on

Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax

Lawmakers like Senator Elizabeth Warren, Democrat of Massachusetts, have championed the idea of placing a 2 percent tax on an individual’s net worth above $50 million — including the value of stocks, houses, boats and anything else a person owns, after subtracting any debts. In an interview on Tuesday, Ms. Warren called the tax revelations “deeply shocking” and said it reinforced the fact that lawmakers should be thinking about wealth over income when writing tax policy.“Increasing the personal income tax rate by 2 percent or 10 percent is not going to make any real difference to these multibillionaires,” Ms. Warren said. “The real …

Read More

Posted on

Thousands Descend on Miami to Glorify Bitcoin

MIAMI — There was money in the air. Buzzwords floated around, like NFT, BTD, blockchain, token. There was a frenzied energy.And there was heat — a humid, sticky South Florida heat; the kind all the Californians and New Yorkers who moved to Miami during the pandemic’s winter doldrums were warned about. The kind generated by thousands upon thousands of people gathering to worship at the altar of cryptocurrencies.Such was the vibe at Bitcoin 2021, an occasional gathering of digital currency enthusiasts run by a magazine named after the cryptocurrency. Last year’s event had been postponed. But on Friday and …

Read More