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Sergei Brin sold Tesla stock near its peak for new giving vehicle
11–20 of 42 posts
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#12The Venn diagram overlap between philanthropic foundation, tax shelter and influence operation seems to be rather large these days.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#13> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
The article doesn't mean that 501(c)(4) organizations are new, but that the specific organization mentioned, Catalyst4, was a new 501(c)(4). Just like one might say they started a new LLC - not that the concept of an LLC is new.
From the article:
> While 501(c)(4)s have been a part of the tax code for decades, often exploited by “dark money” political funds, prominent billionaires are beginning to use them for broader purposes.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#14Sergiy Brin sold his Tesla stock to fund a new nonprofit group.
Thank you. I had a hard time parsing the title.
The title in question is (in case HN changes it): "Billionaire Brin Sold Tesla Near Its Peak for New Giving Vehicle"
The only meaning I managed to parse for vehicle was an electric car, such confusing title indeed
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#15> Sergey Brin’s latest nonprofit, Catalyst4, offers the Google co-founder tax breaks, as well as increased levels of flexibility, secrecy and political influence
What an awful, cynical way to describe someone donating billions of dollars into philanthropic causes. Bloomberg can do better.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#16Sergiy Brin sold his Tesla stock to fund a new nonprofit group.
Seems a bit tabloid-y for Bloomberg. It's got all the hallmarks of a daily mail front page, except for a rhyme.
* Alliterative "billionaire brin"
* Grammatically inexact reference to a polarizing company/product.
* Pun on "giving vehicle" to refer to a nonprofit organization.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#17> Sergey Brin’s latest nonprofit, Catalyst4, offers the Google co-founder tax breaks, as well as increased levels of flexibility, secrecy and political influence What an awful, cynical way to describe someone donating billions of dollars into philanthropic causes. Bloomberg can do better.
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Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#18Earlier quoted context omitted.
Thank you. I had a hard time parsing the title.
The title in question is (in case HN changes it): "Billionaire Brin Sold Tesla Near Its Peak for New Giving Vehicle" The only meaning I managed to parse for vehicle was an electric car, such confusing title indeed
I assumed insider information was going on, but instead it seems like a coincidence once you read it. It is very tabloid-y.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#19Sergiy Brin sold his Tesla stock to fund a new nonprofit group.
It sounded like he was developing a new, more magnanimous electric car.
I wasn't sure how cars can be magnanimous or selfless, but I was prepared for the article to explain. Maybe it reads you Shel Silverstein books while you drive.
Re: Sergei Brin sold Tesla stock near its peak for new giving vehicle
#20> a 501(c)(4), which allows Brin to exploit a powerful new philanthropic strategy new? a cursory reading of the 500 section of the tax code has that listed in plain English, and it wasn't invented or modified at all in any recent tax code. I read the article hoping there was something mentioned about why it was "new". Its just new to that guy, or new to a broader collective conscious with a few high profile entrants.…
The article doesn't mean that 501(c)(4) organizations are new, but that the specific organization mentioned, Catalyst4, was a new 501(c)(4). Just like one might say they started a new LLC - not that the concept of an LLC is new. From the article: > While 501(c)(4)s have been a part of the tax code for decades, often exploited by “dark money” political funds, prominent billionaires are beginning to use them for broade…
that's an interpretation I hadn't considered, I would say the only new thing is that prominent billionaires have large percentages of a public stock, and the movements of those stocks have to be disclosed.
This is probably the only reason that Catalyst4 is known about at all, because it is the organization that sold shares ultimately controlled by Brin.
edit: no. its saying the strategy was new, not that Catalyst4 was new.