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Mindset | Entrepreneurship | Business on Instagram: "Scott Galloway explains how the ultra-wealthy legally minimize taxes through a strategy often called “buy, borrow, die.” Rather than selling assets like Amazon stock and paying capital gains tax, they borrow against the value of their holdings. For example, buying $10,000 in stock that doubles in value allows them to borrow $5,000 tax-free—no sale, no tax. Galloway notes that billionaires such as Elon Musk use this approach to fund their lifes
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Mindset | Entrepreneurship | Business on Instagram: "Trevor Noah brought up the conversation about how many billionaires legally minimize taxes without breaking any laws or hiding money. Instead of selling assets like stocks and paying capital gains tax, they often borrow against those assets. Since loans aren’t considered taxable income, they can access cash while their investments continue to grow. The system taxes income, not wealth, giving a huge advantage to those who already own appreciati
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