General > General Technical Chat
Linus Sebastion Turned Down $100M Offer
asmi:
--- Quote from: Bud on May 26, 2023, 07:56:35 pm ---You all forget tax.
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They don't materially change the overall picture.
nctnico:
--- Quote from: Bud on May 26, 2023, 07:56:35 pm ---You all forget tax.
--- End quote ---
No. The shares are typically owned by some kind of Ltd which receives the sum of money from which the share holders (the business owner) are being paid a salary. If you setup a limited company, you typically setup 2: one as a financial vehicle (pension fund and so on) and one in which the actual work is done. The financial vehicle owns the shares from the 'worker' limited. Sometimes there is even a third ltd to hold any IP.
tom66:
$60mn cash invested well ought to derive an annual payment of about $2-3 million in average to low risk investment funds. I don't know what Linus's cost of living is, but I'm sure he could have managed quite nicely on that.
EEVblog:
--- Quote from: Bud on May 26, 2023, 07:56:35 pm ---You all forget tax.
--- End quote ---
Do you pay tax on selling a business in Canada?
EDIT: seems like you do in same way.
So let's say you didn't how the current government was spending your taxes, another reason not to sell and have them take a huge chunk now. That sort of stuff can keep you up at night.
EEVblog:
--- Quote from: asmi on May 26, 2023, 07:48:43 pm ---
--- Quote from: Ed.Kloonk on May 26, 2023, 04:46:40 pm ---But not Linus' and Yvonne's life. That's a whole different scale by itself, you've made my point for me. These lump sum amounts go fast, especially if you have the mindset that it's an unbelievable amount.
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That's because it is. Even if you blow 100k$ a month, 60M$ will last 50 years, ignoring any interest which can be made. Even at 2%/year you can be blowing 100K$/month forever, as it will bring you 1.2M$ a year in capital gains.
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You hear about huge lotto winners becoming broke within like 5 years or something.
https://www.google.com/search?q=lotto+winner+who+blew+it+all
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