Chapter 496: The Family (2)(1/2)
After getting along for a long time, the couple has already been in the same mood.
Janet could see what Simon was thinking at a glance and asked Alia, who had just sent her coffee, to get her laptop. Although she had very little work on weekdays, as the housekeeper of the Westeros, no one knew Simon's background better than Janet.
Turning on the laptop, Janet recalled a document and said to Simon: "I happened to do some statistics recently, guess how much money do you have now?"
Simon just smiled and looked at the document.
Janet obviously is easier to obtain a lot of accurate data than Forbes, so women's statistics are definitely more reliable than Forbes.
The easiest thing to count in Simon's assets is a series of listed technology companies.
Affected by the continuous outbreak of the new technology wave, Cisco and American Online, which have great advantages in the industry and have shown super high growth, have both market valued over the 10 billion dollar mark this year. However, these two companies have contributed more than 10 billion dollars in personal wealth to Simon.
The stock prices of other technology companies such as Microsoft, Intel, Oracle, SUN are also rising rapidly.
Overall, as of the last trading day last week, the total value of all listed technology stocks held by Simon reached US$21.7 billion.
Just this is destined to surpass all the super rich people in this world.
However, for Simon now, this technology stock asset is not the most important one.
The most important thing is, of course, Daenerys Entertainment.
The successful completion of the MCA merger not only did not show the dilemma of Time Warner's merger, but Daenerys Entertainment is still developing rapidly this year. Pixar Studio's 3D animation has risen, completely merged with EA game companies, the stock price of Blockbuster, which has a heavy holding, has been rising steadily, the launch of the Universal Studios Osaka plan, etc., has made Daenerys Entertainment more and more consolidated its position as the most powerful entertainment company in Hollywood.
Compared with Time Warner, which is still hovering at a market value of 10 billion US dollars, Daenerys Entertainment's current valuation can definitely easily exceed 20 billion US dollars.
Daenerys Entertainment is just one of the 'four women' of the Westeros system.
The other three women, Cersei Capital, Egret and Melisandra, have also seen the rapid expansion over the past year.
Among them, the value of Cersei Capital is the most difficult to estimate. However, with the comprehensive strength shown by Cersei Capital at this time, if this company goes public, it will be absolutely easy to break through the market value of 10 billion US dollars.
Igrit, which has an absolute leading position in the online field of the Internet, has even more controversial valuation.
However, just referring to Igrit's current revenue and the general price-to-earnings ratio of new technology companies, the valuation of this Internet company has reached $5 billion.
Melisandra seems the least conspicuous among the four women, but with Gucci's continued increase in revenue and continuous mergers of Van Cleef and Arpels, CK and other companies, Melisandra's valuation has also steadily exceeded US$3 billion.
Therefore, just these four women can probably bring Simon about $40 billion in wealth again.
In addition, Westeros System also holds a large regional telecom operator, Verizon Telecom, which was once renamed by Bell Atlantic.
As one of the strongest regional telecommunications companies among the seven Bells, Simon's bottom-buying price reached US$7 billion at the lowest point in the stock market. North American stock market quickly recovered after the end of the Gulf War last year, and the wave of new technology has also driven the rapid development of the telecommunications industry. If Verizon Telecom is relisted, its market value can also reach the 10 billion US dollars.
This is another $10 billion.
Immediately afterwards, the Westeros system also invested a large number of non-listed companies such as Nokia, Qualcomm, graphics card chip development company ATI, etc. Including the properties and land under Simon's personal name, the total value of these two parts of the assets is also more than US$5 billion.
Finally, although the Westeros system has experienced multiple loan mergers and acquisitions or bond financing in the past year, the overall debt of the Westeros system, calculated in a comprehensive manner, is still only about US$16 billion.
Therefore, based on the combined assets minus liabilities, Simon's net worth has once again risen to $60 billion this year compared with the $35 billion given by Forbes last year.
Janet snuggled up to her husband and flipped through documents and occasionally looked at the man who had completed a super snowballing in just six years. This is his own man.
After reading the information, Janet waited quietly for a moment before saying, "I think we need to speed up the preparation of some future things."
What happened in the future is naturally about the inheritance of wealth.
The personal wealth of $60 billion is enough to reach the top of the global rich list even after twenty or thirty years. In 1992, it is far more than all other rich people in the world.
For billionaires, the inheritance of wealth is always a difficult issue to avoid.
Although I occasionally have the idea of not caring about the flood after my death, most of the time, Simon was unwilling to have the huge commercial empire he created fell apart many years later.
In Western society, the topic that is difficult to avoid about wealth inheritance is undoubtedly inheritance tax.
Because of this, when Simon and Janet got married, the woman did not give up her Australian nationality.
There is no inheritance tax in Australia.
With Simon's current influence on Australia, it is absolutely impossible for this country to restart the inheritance tax in the future.
In addition, putting the little guy in Australia for Veronica to take care of, for more than half a year, the Johnston family has quietly registered Australian nationality for Melbourne Westeros.
It can be said that the Westeros family now has Simon and Janet is an Australian, and a little guy has dual nationality.
This is actually some layouts made by the couple quietly.
Of course, although there are many problems, the road is gradually developed.
On the other hand, although he decided to pass on his wealth, Simon did not intend to split the assets to future children, but instead preferred the family foundation model.
The most critical reason why families such as Rockefeller, Morgan, Ford in the United States have been able to be strong for a hundred years is the family foundation. This not only ensures that future generations cannot squander the wealth left by their ancestors, but also a unified family foundation can ensure the long-term cohesion of the family.
In the original timeline, the students who called on the rich to donate most of their property after their deaths and Warren Buffett, who were all called on to donate most of their property after their deaths, were just a trick to tell anyone who was discerning.
Bill Gates had already established a foundation in the late 1990s. If this super rich man really used all his wealth as charity, then the other party would not be able to remain at the top of the global rich list for many years.
So, where is the money for the students from the main gate?
This involves talking about the foundation structure of the founding of Damen classmates.
To the outside world, what the public often hears is actually the Bill & Melinda Gates Foundation, which is indeed a pure charitable fund. However, the students of Damen gradually sold their shares in Microsoft but did not put their money into this fund, but another very low-key Bill & Melinda Gates Trust Fund.
The latter is actually a family trust.
The model of students doing charity in Damen is to allocate a certain amount of funds from the trust fund every year and invest it in the charity fund.
As for this trust fund, you can refer to the Jobs trust fund left behind after Jobs' death on the original timeline.
The trust fund of the Jobs family still paid estate tax after Jobs' death.
However, the inheritance tax ratio is only 15%, which is obviously very low compared to the highest 50% estate tax in the United States.
As for why family trusts only need to pay a 15% estate tax, it is mainly because, as usual, these trust funds are charitable and must donate a certain amount of funds every year for charity.
Although charity is required, these trust funds also receive tax exemption qualifications.
It can be imagined that as long as the heirs can manage these trust funds well, even if a sum of funds is needed to donate each year, the overall size of the trust is likely to still increase. Moreover, many trust funds also have a certain donation period.
After fulfilling the donation period, all the remaining assets will belong to the family of the trust fund.
In this regard, among the traditional American families, the Ford family did the best.
Compared with the more old-fashioned Morgan and Rockefeller, and the Ford family, which has a long history, the total assets of the family foundation have been increasing for most of the century.
In short, the Bill & Melinda Gates Trust Fund established by Damen classmates is ultimately for the inheritance of wealth. However, in Western society, just like racial discrimination, there are some things that can be done, but it is best not to say it out, or at least find a high-sounding reason.
This is a kind of political correctness.
Another Warren Buffett, the old rich man, also established the Buffett Foundation very early on.
Buffett's long-term call for heavy taxes on the rich is also very fake in Simon's opinion.
Because if the United States really imposes heavy taxes on the rich, it will actually not be levied on this old rich man.
Buffett only pays himself an annual salary of $100,000 a year. In addition, Berkshire Hathaway has never had any dividend mechanism. Therefore, Warren Buffett is not a "high income" in theory, so naturally he does not need to pay the "heavy tax" he personally calls for.
Not only that, although the federal government also called on the federal government to increase corporate taxes, in the original timeline, taking advantage of tax loopholes in the US insurance industry (insurance reserves do not require tax payments), Berkshire Hathaway, who owns an insurance company, has long owed tens of billions of dollars in taxes by converting corporate profits into insurance reserves.
Buffett has claimed more than once that Berkshire Hathaway is actually an insurance company.
The reason is self-evident.
The Simon & Janet Westeros Foundation of the Simon and his wife has been operating for several consecutive years, but this is also a pure charitable foundation.
If you want to make the subsequent inheritance layout, you will need at least one trust fund.
Simon is only 24 years old this year, and now he suddenly set up a family trust, and the goal is actually too obvious.
American laws are not static.
Now showing the attitude of making arrangements for wealth inheritance, it is inevitable that no federal lawmaker or presidential candidate will find that his approval rating is too low during the campaign, so he used him as a target to attract attention.
Most ordinary people like to rob the rich and help the poor. Even if the "rich" is robbed, the benefits cannot fall on them.
This is also an institutional flaw in Western society.
Sometimes the rulers do everything they can to vote, and they will not consider whether the proposed initiatives will harm a country's long-term interests.
Originally, France's super high tax on wealthy people was the most typical representative.
The tax on the wealthy people as high as 70% directly forced a large number of French rich people out of this country, and the French economy was severely impacted.
In my memory, this tendency also appeared in the United States later.
Young female congressmen from the bottom of the class called for the imposition of more than 70% of the wealthy tax and robbing the rich to help the poor, and for a time it was very popular.
This society has never been unfair.
There is nothing wrong with pursuing fairness, but if this pursuit exceeds a certain limit, it is also a great injustice to another group of people.
If the pursuit of fairness is completely lost, people will starve to death.
Thoughts flew, Simon nodded when he heard Janet's words, shook his head again, and said, "Yes, but not too obvious. At least, it is not suitable to establish a trust fund yet."
Janet naturally understood Simon's concerns and said, "I know, I'm thinking, next, we should increase the proportion of overseas investment."
Although the United States levies taxes globally, putting more assets overseas will definitely have more room for action.
Otherwise, American rich people would not hide their trillions of dollars in wealth outside the United States.
Melisandra is headquartered in Switzerland, Nokia is headquartered in Finland, and Cersei Capital, and the registered address is also in a tax haven overseas. This is actually Simon's instinctive layout overseas.
To be continued...