Toot

Written by 𝓐𝓷𝓭𝔂𝓣𝓲𝓮𝓭𝔂𝓮 𓀤 on 2024-09-02 at 03:25

Fol­low the money

The shadow realm of secret wealth and off­shore tax havens is more than a nuis­ance for demo­cra­cies — it has become a threat to their very exist­ence. What if we just shut it all down?

Don­ald Trump opened Trump Tower on Fifth Avenue in 1983 and occu­pied the pent­house him­self. The build­ing was inten­ded to advert­ise its owner’s wealth, and also to attract other rich ten­ants — includ­ing, iron­ic­ally, the very secret­ive rich. Trump would sell 43 con­dos in Man­hat­tan’s flash­i­est build­ing to shell com­pan­ies based in jur­is­dic­tions such as Panama, the Cay­man Islands and the Brit­ish Vir­gin Islands, which con­ceal cor­por­ate records. He sold another six con­dos, for cash, to cor­por­a­tions based in Delaware, which has his­tor­ic­ally had the least trans­par­ent com­pany laws in the US....

https://ft.pressreader.com/article/281925958364597

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