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“Ingvar Kamprad started IKEA. He owns most of IKEA through INGKA Holding and Stitching INGKA Foundation. He took his share of IKEA, put it in a trust, and the trust pays no taxes, so he basically pays no taxes. Rich people do this all the time. They either move to a country where there is no tax on worldwide income, or no capital gains tax. The concept that you’ll always pay tax is a little overblown if you are a member of the capital class.” — Richard Heart
Ingvar Kamprad started IKEA. He owns most of IKEA through INGKA Holding and Stitching INGKA Foundation. He took his share of IKEA, put it in a trust, and the trust pays no taxes, so he basically pays no taxes. Rich people do this all the time. They either move to a country where there is no tax on worldwide income, or no capital gains tax. The concept that you’ll always pay tax is a little overblown if you are a member of the capital class.