Axel Springer’s CEO Was Just Given $1.2 Billion In Stock. Here’s How He Might Sidestep A $500 Million Tax Bill

dpa/picture alliance via Getty Images

Friede Springer said in a statement that she is delivering on a promise to “ensure continuity” and “safeguard the future of Axel Springer”and was “very happy and grateful to have found my successor in Mathias.” Mathias Doepfner, chairman of Springer AG, Friede Springer, deputy chairperson of Springer AG and German Chancellor Angela MerkelWhy Mathias Döpfner wants to navigate this enormous tax bill is clear–not every ‘gift’ arrives with a $500 million tax bill attached. He also is unlikely to sell Axel Springer shares, as that would undermine the entire point of the succession plan.

With plenty of time to plan this succession and move assets into trusts, or into the name of close family member, Döpfner could, Schubert speculates, end up paying a far smaller amount than the $500 million. Simply put, Döpfner will pay 50% tax on the private wealth remaining in his name, and the assets that remain in his name are easily changed. Schubert adds, “Basically ... one can assume that there shouldn't be any gift tax applicable.

Obscene! AbolishTheBillionaireClassNow BillionairesAreSociopaths

This people will never be poor again, hope some workers under him got some too.

EndPoliceBrutality EndSarsNow Help us create awareness We are dying in Nigeria please please 😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭

With the $500 mill tax liability, he’s got $700 mill. Barely enough to feed a fam. We should definitely let him keep it all.

By being a bitch?

genpact harassing ex-sr manager patrickcogny CPBlr professor_ajay satyanadella nytimes nytimesbusiness BainCapital CNBC cnni CNN markets business ReutersBiz Reuters gailfmarold BillGates NYSE nasscom WSJ AccentureAI BCG ryros GoldmanSachs Jim_Madden_V

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Axel Springer’s CEO Was Just Given $1.2 Billion In Stock. Here’s How He Might Sidestep A $500 Million Tax BillThe man running Bild, Die Welt and Business Insider just got a lot richer, thanks to the Springer family’s plan to “ensure continuity” at the publisher. Now come the taxes. 👍
Source: Forbes - 🏆 394. / 53 Read more »

Axel Springer’s CEO Was Just Given $1.2 Billion In Stock. Here’s How He Might Sidestep A $500 Million Tax BillThe man running Bild, Die Welt and Business Insider just got a lot richer, thanks to the Springer family’s plan to “ensure continuity” at the publisher. Now come the taxes. 👍
Source: Forbes - 🏆 394. / 53 Read more »

Sachem Head takes $1.2 billion position in Elanco, stock price surgesHedge fund Sachem Head Capital Management said on Wednesday that it owns a $1.2 billion stake in Elanco Animal Health Inc and plans to push for changes at the company that makes medicines and vaccinations for pets and livestock.
Source: Reuters - 🏆 2. / 97 Read more »

Virgin Hyperloop picks West Virginia for $500 million testing facility - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. West Virginia? Wow Virgin Hyperloop? elonmusk Tesla Cheap land values?..why does America not have rapid transport links to major cities?
Source: BusinessInsider - 🏆 729. / 51 Read more »