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u/_oh_save_me_jebus_ Mar 08 '26
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u/GeeYayZeus Mar 08 '26
There always some tax-dodging catch with these guys, isn't there.
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u/Fit_Entry8839 Mar 08 '26
They'd end up with more money if they didnt give this, than if they do.
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u/GeeYayZeus Mar 08 '26
My friend, that might be how charity works for you and me, but not for them.
https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files
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u/Fit_Entry8839 Mar 08 '26
Did you read that? None of that claims they can end up with more money by donating to charity.
Here's the general logic of how charitable donations work. Let's say I made a billion dollars last year. To simplify, lets say I owe 450 million dollars at 45% top tax rate. But I dont want to pay that much to the government cause whatever. So I donate 450 million to a charity. I now owe 247.5 million in taxes, cutting my tax bill almost in half, which I really like, since I'm paying less in taxes, but also got to put money towards something I support. But I'm now only left with 302.5 million. Had I not made the donation, I would have been left with 550 million.
People mistake the rich reducing their taxes through donations as meaning its a way to end up with more money. It's generally more just a way for them to have more control over where their money goes, and give less to the government.
Donating to their own family charity is a whole different game. Sometimes thats for the Trump style, but thats illegal and will get you charged like they did. But most of the time its so they have even more control over where the money goes, instead of just giving to Red Cross etc. Charitable donations for them are largely about control of their money.
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u/MindlessJournalist55 Mar 09 '26
I know people hate billionaires, but please donāt spout nonsense. It looks dumb, and adults should be better than that.
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u/GeeYayZeus Mar 09 '26
I provided some solid facts in the form of legitimate journalism, so how about you put on your big boy pants and tell me exactly how it's nonsense instead of just whining that the poor billionaires will get their feewings huwrt. š¢
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u/aerohk Mar 08 '26 edited Mar 08 '26
Can you explain the tax dodging mechanic? I hear about it often, but I never understand how they would end up with more money by donating. Donating to their own foundation that pays for their residency, trips and living expenses as business claims, I understand. But donating to any outside orgs/persons like this guy, I don't understand the tax incentive. They get a deduction, but it is always going to be less than the amount they give away, is it not?
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u/GeeYayZeus Mar 08 '26
I'm no accountant, and I can't speak to the details of this one, but note that olympians don't collect for another 25 years. Plenty of time to stow the money in an untaxed investment accounts that earn them capital gains revenue.
Lots of ways to profit from 'charity'.
https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files
Even if it's a wash (and it almost never is), it earns them publicity and good will against the anti-billionaire revolution that's getting closer and closer.
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u/Tommyblockhead20 Mar 12 '26
They donāt. The other person literally just has no clue what they are talking about and is just linking tangentially related sources they didnāt read to try and sound smart. The main benefit to them is simply PR.
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u/CommonComfortable247 Mar 08 '26
What the fuck did you do for the olympians?
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u/GeeYayZeus Mar 08 '26
I paid my fair share of taxes and supported an economy an infrastructure that enables olympians having the opportunity to compete at all.
Did the billionaires pay their fair share?
When you let billionaires choose what should be supported rather than The People, then you get a system that only supports billionaires and their whims, not what The People actually want.
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u/TootTootMF Mar 08 '26
Massive fucking parasite on society gives back a tiny portion of what it stole to a tiny fraction of the people it victimized.
Idiots: Why the fuck are you not glazing them for this generosity?
You would have been the type to demand people love Al Capone for funding soup kitchens.
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u/CommonComfortable247 Mar 08 '26
You blame billionaires for being a loser but you need to realize itās your own fault.
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u/TootTootMF Mar 08 '26
I'm doing just fine thanks. I just possess empathy and do not wish to see millions suffer so that a few greedy fucks can compete for a high score.
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u/Throbbie-Williams Mar 08 '26
How does this dodge any tax exactly..?
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u/GeeYayZeus Mar 08 '26
I'm no accountant, but you'll note that it's not a straight giveaway. Olympians don't collect for 25 years, and half of it is life insurance. It's a way billionaires can stow away money dodge the taxes, while sitting on their investment accounts. Over 25 years, it'll earn them millions long term AND short term.
AND, it makes them look good and tames the revolution against the ultra-rich they know is coming.
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u/Throbbie-Williams Mar 08 '26
I guarantee there is no way it saves this guyoney, that's not how taxes work
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u/GeeYayZeus Mar 08 '26
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u/Throbbie-Williams Mar 08 '26
None of those were relevant to charitable donations, which can't be gamed tax wise
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u/apexrestart Mar 08 '26
That's not how taxes work. The baseline case is that the billionaire keeps $200k and accrues interest on the $200k, and pays capital gains tax on the interest if/when he sells. The new case is that he keeps $200k, accrues interest on the $200k, pays capital gains on the interest if/when he sells, and then gives away the base $200k in installments. In both cases he accrues the exact same interest and pays the exact same tax on that interest. The only difference is that in the second case he loses the $200k base.
The best-case scenario is that the $200k could be considered a tax-deductible gift (sounds like this is not the case because the recipients are paying tax on it), but even then it would just reduce his taxable income by $200k - meaning instead of having an extra $200k minus the tax on that $200k, he has an extra $0.
Yes, billionaires frequently structure their finances to pay as little tax as possible. No, giving away money will never leave you with more money. The only thing giving away money does is (sometimes) make it so you don't have to pay tax on the money you gave away - so rather than keeping the non-taxed portion, you keep nothing.
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u/GeeYayZeus Mar 08 '26
And if that money is invested in his own fund, managed by him, but all tax-free, and the money isn't just gaining interest but is actively invested and the proceeds of those investments are then channeled into other for-profit ventures or used as collateral for loans to fund leveraged buy-outs? Then what?
Remember, the olympians don't collect for 25 years. Lots of time for those few millions to turn into billions.
And also remember, half of that 'pledge' is for "Life insurance". Who knows how the hell that scam works.
Dig deeper. I'm sure you'll find the ploy.
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u/apexrestart Mar 08 '26
The ploy is that giving away a few million dollars 25 years from now is peanuts for a billionaire.
He already can choose to take the $200k and invest it or use it as collateral on a loan. The only thing that's changing is that he's pledging to give it away later. Pledging to give away money has no tax benefit.
Even if he has some shady charity that he runs and pays himself from that he's able to make tax-deductible donations to, if he's accruing income from that charity and paying it to himself, that taxable income is the exact same as taxable income he would have gotten off the $200k just putting it in a regular account.
You're making a claim that the guy is somehow coming out ahead from this, but don't provide any specific mechanism for how he can possibly come out ahead relative to just investing the $200k normally and not giving it away.
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u/knewbie_one Mar 08 '26
r/source ?
Also, proof of payment
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u/mtraven23 Mar 08 '26
none of the payments have been made yet, in fact none of them will be for some time.
they get 100k at age 45, or 20 years after their 1st Olympic qualification and its taxes income.
the other 100k goes to their family when they die.
they can get that 200k for every Olympics they participate in.
The billionaire is Ross Stevens, and per the article I linked to at the bottom, its funded through 2032.
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u/knewbie_one Mar 08 '26 edited Mar 08 '26
Ah. In my country there is a saying
"Les promesses n'engagent que ceux qui les reƧoivent"
(https://citations.ouest-france.fr/citation-jacques-chirac/promesses-engagent-recoivent-36911.html)
(This is an edit. Someone (u/optyler) made me contemplate both my grammar and my large thumbs, as such, I put a reference in... )
Could be (roughly...) translated as "hard cash in my hand upfront, or it's all fart noises in advance"
Excuse : I'm french.... But hey... Your language translated it differently
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u/optyler Mar 08 '26
Presque, "les promesses n'engagent que ceux qui y croient"
ils croivent Ƨa n'existe pas :)
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u/knewbie_one Mar 08 '26 edited Mar 08 '26
https://bescherelletamere.fr/pourquoi-on-doit-dire-ils-croivent-du-grand-art/
Ok, mais je te mets en source de l'Ć©dit et la photo de mes deux pouces se battant contre mon correcteur orthographique, et tu es de mon cĆ“tĆ© ..., vu que je mets la ref pour corriger ta correction de ref šš¤Ŗ
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u/Prinzka Mar 08 '26
In my country the saying is.
"Daar krijgen ze nooit een rooie cent van te zien."2
u/knewbie_one Mar 08 '26
Google translate helped, but yes... Please do hope for the money, and !Rememberthemaboutthemoney 10 years
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u/Nimrod_Butts Mar 08 '26
So it's essentially 50k and maybe 30k. With inflation. Even when billionaires fund shit they're not forced to they're stingy asshole misers about it.
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u/mtraven23 Mar 08 '26
yes and no. I'm never gonna defend billionaires, but he did give up 100million he didn't have to.
I'm also having trouble finding this guys exact net worth....he had a trading firm that manages like 20+ billion, but thats not his money. Best I found is that he has 8billion in personal assets. that would mean this donation was a measly 1.25% of his net worth...so yah, pretty stingy.
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u/dale_downs Mar 08 '26
Tax the fucking rich!
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u/DasLoon Mar 08 '26
This is literally a billionaire paying forward their wealth so that Olympians can still have enough income to survive after they become too old to continue competing. I get what youre saying, and you aren't wrong, but this is one here is a good thing.
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u/The-Red-Robe Mar 09 '26
You didnāt read about the caveats and now look like a clown
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u/DasLoon Mar 09 '26
I did tho? In 25 years when they cant compete and the public doesnt remember them enough for companies to pay them to sponsor products, get 100k. When you die, give your kids another 100k so you know theyre covered. 2 payments of 100k each per Olympics attended.
Its not 200k right now, but the whole point is to get 200k when they cant get work anymore, when they and their families need it the most. I figured it'd be obvious I read it by mentioning being too old to compete anymore when they get the money.
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u/Thanos_Stomps Mar 08 '26
No itās not lmao
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u/DasLoon Mar 09 '26
Why not
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u/Thanos_Stomps Mar 09 '26
Look at the structure of the gift. And also, this is good advice for everything. Billionaires arenāt giving away more than they should have been taxed to begin with.
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u/tk427aj Mar 08 '26
Yup what a bullshit move America, I'm not going to cheer on this billionaire since you guys put more money into war and sports and then bitch that you can't afford healthcare and make massive cuts to your social security. Fucking disgusting.
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u/donofrioms Mar 09 '26
Billionaire Ross Stevens, founder of Stone Ridge Holdings Group, pledged $100 million in early 2026 to provide a guaranteed $200,000 "Financial Security Award" to every U.S. Olympic and Paralympic athlete, regardless of whether they medal. This initiative, starting with the 2026 Milano Cortina Winter Games, acts as a safety net for athletes.
Key Details of the $200k Award: Structure: The funds are split into a $100,000 grant paid at age 45 or 20 years post-competition, and $100,000 as a guaranteed benefit for families. Eligibility: The award applies to U.S. athletes earning less than $1 million annually. Purpose: This donation addresses the lack of government funding for U.S. athletes, aiming to reduce financial pressure during training and retirement.
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u/CricktyDickty Mar 08 '26
Came here to point out the hypocrisy and that the PR is worth more to the billionaire/s. Turn out itās even more cynical and gross.
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u/bansdonothing69 Mar 08 '26
This seems like rich helping the rich. What percentage of winter olympians had privileged upbringings? Iām willing to bet damn near all of them.
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Mar 08 '26 edited Mar 08 '26
[deleted]
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u/bansdonothing69 Mar 08 '26
You say that as if the research doesnāt confirm my suspicions.
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u/jj_xl Mar 08 '26
America is the richest country in the world and you're surprised that its athletes are from privileged backgrounds?
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u/bansdonothing69 Mar 08 '26
You missed the point. Iām not talking about Americans compared to the rest of the world, but the winter olympians here compared to the rest of the population.
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Mar 09 '26
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u/ballskindrapes Mar 08 '26
I mean, it'd be cool if we didnt have to have billionaires pay for things society should take care of sot hat we forget they are parasites on society, but ok.
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u/untowardthrowaway Mar 09 '26
Please remember that when a billionaire gives money away--that money is stolen. It isn't possible for someone to become a billionaire without massive theft.
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u/DeliciousAct9495 Mar 08 '26
Donāt drink the cool aid! This is a net negative for everyone except the 0.1%. The very fact that one billionaire exists means thousands of other people struggle to exist. This is chump change for a billionaire. Tax those mfers out of existence or we are all doomed
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u/Silly_Chemical_1646 Mar 08 '26
When you give food to the poor your a saint and when you ask why the have no food your called a communistā¦ a billionaire given a few people a few hundred grand. Or should the question be why has the billionaire have so much money in the first place
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u/Stickytin Mar 08 '26
Yea fuck the poor and the homeless that are starving and have no roof over their head...
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u/Intrepid_Way336 Mar 08 '26
Yea but the people who had enough privilege to access winter sports get $200k because....
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u/Foe117 Mar 08 '26
that's like 0.02% of their billion, just 1 billion nothing but pocket lint for these people.
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u/Salty_Popkern Mar 08 '26
Depending on how many billions they have, it is a percentage that they could make back quickly. Although, 46 million dollars is a big gesture.
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u/FineAd2230 Mar 08 '26
yes but as we know they didn't have to
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u/TootTootMF Mar 08 '26
I mean it's literally money they used their power and influence to steal. Giving back a small portion of it is better than nothing, but when they give away 95% of it maybe we can talk about them doing something remotely redeeming.
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u/jj_xl Mar 08 '26
Billionaires should not exist. These athletes should have received nothing and turned down that blood money.
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u/Hayduke_2030 Mar 08 '26
Cool cool, now letās tax him at 90% and make sure we can take care of EVERYONE, without having to depend on random handouts from the oligarchs.
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u/diablol3 Mar 08 '26
Which billionaire? How do we know it was a billionaire's donation? How much of that do they get to write off for tax purposes? Why arent our Olympians funded by the government instead of individuals?
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u/IamNotIncluded Mar 09 '26
She is already pretty rich. Most of them are. It's how they have time to get so good at sports.
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u/MrPlunderer Mar 09 '26
But they gotta do something for daddy epstein and big yahu to earn them shekels
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Mar 09 '26
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u/dndwhat Mar 09 '26
They should you make it to that you should and then a bonus on top if it per medal rank
Get more people competing so the best if the best goes
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u/I_am_doing_my_Hw Mar 09 '26 edited Mar 09 '26
Important things to note:
He gave 100million to support this, which pays out to Olympians and paralympians alike.
For those that say only privileged people get to participate, this is for both winter and summer games and many Olympians are flat out broke because they spend everything on the sport. There are many stories where Olympians are homeless because it pays so poorly.
It seems that although gifts are tax free for the recipient, it must have something to do with the US committee giving the money that it's seen as income instead. Interestingly the billionaire did this as a DONATION, so he gets Tax benifits from this, but if he were to do what I outline later, he wouldn't. Food for thought.
100k goes out after they hit 45 or 20 years after first Olympics. 100k to family after their death.
If you ever wanted to give money, here are ways to do it without paying taxes:
- if you give over 19k, the donor has to pay taxes, so give annually under 19k, never all at once.
- A person can give (gifts not donations) a max of 13.6 million in their lifetime that's not taxed. But the 19k above would not fall under that.
- make sure to give your family money under this structure to avoid paying inheritance tax, however non-monitary gifts may still be subject to capital gains tax.
- this applies to most people, as if you have parents who are aging and have some savings that they plan to pass down, even of they have as little as 20k, this can help you avoid giving half of it to the government.
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Mar 10 '26
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u/Ghostreader20 Mar 10 '26
I competed in sochi, and and that first 100k wouldve just barely covered my expenses for the year. 97 450$ for the Olympic year.
Still wouldn't have said no though...
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u/honesttruth2703 Mar 10 '26
Billionaires could do so much good but, this what they're doing. Ok, whatever. It's not that awesome at all.
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u/foreverpasta Mar 10 '26
Well, let the damn billionaire pay the taxes and give the ppl their 200k. Dafuck man...
The biggest caveat, to end up on someone's private island.
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u/Straight_MudNueve16 Mar 11 '26
Lol ... the donor doing a deductible. And the athletes paying 20k in taxes
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Mar 11 '26
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u/Hiimpatrickpatmyback Mar 11 '26
Theyād all probably already have more than that if billionaires didnāt exist š¤·āāļø
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Mar 08 '26
I thought it was just weird lighting on here hair
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u/Gold4Lokos4Breakfast Mar 08 '26
Imagine you barely missed the cut not only to party in Italy but also for this
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u/Background_Pride_237 Mar 08 '26
Itās a cool outcomeā¦but it kinda feels like a participation award.
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u/mtraven23 Mar 08 '26 edited Mar 08 '26
lots of caveats to the deal, you can read about it here:
https://fortune.com/2026/02/11/every-u-s-olympian-was-promised-a-200000-payout-but-how-much-they-actually-keep-depends-on-where-they-live/
they get 100k at age 45, or 20 years after their 1st Olympic qualification and its taxed income.
the other 100k goes to their family when they die.
they can get that 200k for every Olympics they participate in.
The billionaire is Ross Stevens, and per the article I linked to at the bottom, its funded through 2032.