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Mark Cuban is ‘proud to pay’ $275.9 million in taxes
(www.cnbc.com)
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this post was submitted on 16 Apr 2024
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You didn't read the article did you, but even without reading it you'd know he'd have to have a huge amount of income for the year (not just stock appreciation) to have a $275 million tax bill.
'Cuban, who is also one of the stars on ABC's "Shark Tank," has an estimated net worth of $5.4 billion and says his tax bill is "almost all long term capital gains," which almost certainly triggered a federal long-term capital gains tax of 20%.'
Lets assume generously that 100% if that is long term cap gains taxes (which you only get taxed on the sale of assets). In 2023 he would have had to have sold $1.375 billion in stock he'd held for more than one year.
Hey. You rite.
Mark Cuban is my current rich hero.
He is a douche in all of the correct ways.
I made a deeper dig at Trump and Musk who are flexing internet stock like there haven't been 10 crashes to show us why Ian and Anthony aren't running for billionaire office this second.