The Nasdaq continued to slump, and in April, the court announced that it had gathered evidence that Microsoft did have monopolistic practices, and Microsoft faced penalties that could be spun up.

The headlines on the front pages of many major economic newspapers shocked investors into a cold sweat——!

The panic over tech stocks has finally arrived after the frenzied dot-com bubble.

At the same time, Cohen, the chief investment analyst of Goldman Sachs, a well-known investment bank, issued a recommendation to investors to reduce his holdings of technology stocks for the first time in 10 years.

The Nasdaq was in a state of flux, analysts from all walks of life changed their tunes and began to decline, and the crisis began to be revealed.

Countless investors, foundations, and securities institutions have started a round of crazy selling!

The crisis broke out, the bubble burst!

Except for a few companies such as IBM, Oracle, and Amazon, which barely supported it, most high-tech companies, the stock price fell as much as 50%.

Yahoo shares have fallen to $130, Apple has fallen from $40 in March to $20, Microsoft, Cisco, AOL......

Not a single family can run!

The entire bubble crisis would last until September 2002, when the Nasdaq wiped out a total of $5 trillion.

It's just the first stage of the bubble bursting, and no one can avoid this catastrophic bear market. Even Scott Swift's old employer, Merrill Lynch, the world's top securities institution, always hedges risks by fund hedging, and this time the loss exceeded $150 billion!

The good thing is that it is the stock value that evaporates, not the company's cash flow. Otherwise, there is no need to wait for the subprime mortgage crisis, and Merrill Lynch will face the fate of bankruptcy and acquisition.

However, there is one person who sees the Noah's Ark of life in this stormy and turbulent stock market.

That's Don Walker!

Yahoo shorted 10.86 million shares, borrowed at $367.4, repaid at $131.2, earned a difference of $236.2 per share, and made a total profit of $2.565 billion;

Cisco has a total share capital of 7.2 billion shares, shorting 120 million shares with a margin of 5%, borrowing at $74.3, repaying at $44.6, and a difference of $29.7 per share, with a total profit of $3.564 billion;

Apple's total share capital is 234 million, 8 million shares are shorted, the borrowing price is $39.4, the repayment price is $21.6, the difference per share is $17.8, and the total profit is $140 million.

In addition, Donn also earns $270 million from Microsoft, AOL Time Warner earns $320 million, and Dell $73 million.

When shorting Amazon, because the multiplier was too high and the principal was too small, it was forced to close its position when the stock price was still rising, and lost $35 million.

Through the first collapse of the bubble crisis, Don earned a total of nearly $6.9 billion from the futures market!

After deducting capital gains tax, the total income is 69-*20%-*15%=5.58 billion US dollars!

While Tang En was excited, he still regretted it.

It's no wonder that when it comes to the bubble crisis of the Internet, everyone thinks of Yahoo and Cisco, and it turns out that these two companies are the big ones. Cisco, in particular, has a total share capital of 7.2 billion shares and a total market capitalization of nearly $550 billion.

$8 billion!

However, trader Scott Swift, as a professional, must not put all his eggs in one basket without being able to predict the future.

Such a result is destined to lead to a significant reduction in Don's income.

But Donn didn't care, the bubble crisis was not over yet, and now it was only the first stage of the bubble bursting, and there was also the second stage - the 911 incident.

In short, Donn had to make enough capital to buy Universal Pictures before Vivendi made huge losses and planned to sell off its publishing group and Universal Pictures to recoup the money.

At the moment, it's not a big problem.

April 15, tax payment period.

Previously, he was deceived by an accounting firm, and it was not until that day that he communicated with Shirley Hirschler that he understood that the top companies and the top billionaires in the United States must have their own financial management teams.

Outsourced tax companies often avoid a lot of gray areas because of risk issues, which greatly increases the client's taxes.

Because the box office dividends have not yet arrived, Donne's personal income tax is only $7 million.

But Towne Pictures paid more than $77 million in corporate income tax.

Tang repaid another $35 million in Marvel Studios' debt and borrowed $150 million......

Subsequently, Donn injected another $1 billion into Donn Films, gave Scott Swift a big red envelope of $30 million, and still had $4.25 billion in remaining funds.

……

As for the use of such a large amount of money, Don consulted his financial management team, the person in charge is named Blanca Reyes, a bachelor of finance from MIT and an LL.M. from Harvard...... $6 million!

You know, the president of Down Pictures, Bill McNick's annual salary is only $5 million.

Of course, he used to be at Twentieth Century Fox, and he could get more dividends, earning between $10 million and $15 million a year, which is simply impossible to reach at the moment.

Blanca Reyes's salary is very high, but he does bring too much convenience to Donne, the simplest example, he has successfully negotiated with Lucasfilm, and the box office dividends will no longer go through the situation of personal income tax, but capital income tax.

That alone saved Don more than $30 million in taxes.

Last year, Buffett paid a total of $1.736 million in personal income tax. Blanca Reyes looked at Donn with a smirk, "Any idea how he did it?"

Don was a little bitter, "Just say, what should I do?"

Blanca Reyes said: "Setting up a trust fund is a common means for the richest people in the United States to avoid taxes. ”

"How?"

"You know, all the heavy assets of the rich have to pay taxes, including real estate, art, private jets, gold, luxury goods, cruise ships, and so on. If the chain of money of the rich is broken, these taxes alone are enough to bankrupt people. For example, the gray stone castle in Beverly Hills was nationalized and became a tourist attraction because it could not pay the property tax. ”

Don nodded, Nico Raskech is an example, he was seduced by the manager, bought a lot of art, real estate, and as a result, he couldn't pay taxes and was forced to shoot a lot of bad films.

"Can the Trust avoid this?" Donn furrowed, understanding what Blanca Reyes meant.

Blanca Reyes laughed: "That's right, personal taxes can't be delayed, but corporate taxes can be postponed by many means. If these assets are not placed in the name of the individual, but in the name of the foundation, then even if the capital chain is broken, there will be a buffer zone. ”

Tang En suddenly realized, "Good idea!"

Blanca Reyes was afraid that he would not understand, so he continued to explain, "This trust fund can be your private fund, so even if you don't have any property in your name, you can still indirectly control these assets through the foundation. In life, it will not cause any obstacles. ”

Don understood this routine and said with an understanding: "Oh, personal tax avoidance is very troublesome, the federal government is always trying to squeeze the income of the rich, and if you are not careful, you will face charges of tax evasion." However, the federal government has always introduced a variety of policies to encourage the growth of companies. ”

Blanca Reyes approvingly: "That's right, that's the second benefit of the trust fund, which is to get policy benefits that individuals can't get. The tax rate of individuals is often fixed, but the tax rate of companies will change with the changes in the national economy, and more importantly, the tax avoidance methods of companies are far more than those of individuals!"

"Like an offshore company?"

"That's right, offshore company!" Blanca Reyes looked at Don with a smile, he finally understood why the young man in front of him had achieved such great success, he was really smart, "If an individual transfers unpaid tax funds everywhere, this is black money, and it will be investigated by Interpol." But the company is different, you can use an offshore company to avoid paying taxes. Of course, the process is complicated, and if you are interested, we can talk about it slowly later. ”

Don waved his hand, "Is there a third benefit?"

Blanca Reyes laughed, "Yes, for example, buying a private jet." If it is purchased by you personally, it is not within the scope of tax reduction, but it is purchased in the name of the company, which is an official expense, and you need to deduct this part of the expenditure when paying taxes. ”

Tang En's eyes lit up suddenly, "Isn't it true that all expenses are within the scope of tax reduction? Buying a car, buying a house, and buying a plane can all be turned into official expenses, and meals, accommodation, buying sets, and parties can all be reimbursed?"

Blanca Reyes couldn't help laughing, "In theory, this is the case, but it doesn't look good on the books." ”

Don En laughed, there is really a plan and a countermeasure!

America's plutocrats are really smart enough to come up with such a shameless way to avoid taxes.

No wonder Warren Buffett only pays more than 1 million taxes a year, and then shouts shamelessly every day to ask the federal government to raise taxes. Damn, if you like to pay taxes, don't you hire a professional financial management team to avoid taxes?

When I was a bitch, I also set up a torii!

In fact, there is a fourth point, which is also the most important point for the rich. ”

"What?"

"Inheritance tax!"

Blanca Reilleston paused for a moment and said slowly: "The inheritance tax is more than 50%, and after paying the inheritance tax, you have to pay personal income tax, which is unacceptable to anyone." Therefore, the most critical point of trust funds is to avoid inheritance tax. ”

Tang En was stunned, "Is it possible?"

Blanca Reyes shook his head, "Before dying, if you change the trust fund into a charitable fund, you can let your children and grandchildren completely take over all the property of the rich man during his lifetime, without paying any fees." In fact, the same is true for many wealthy people who advertise that they donate all their wealth to charitable foundations. ”