This has to be outlawed as immoral:
>The Times noted in a follow-up piece that Musk owns about 411 million Tesla shares, worth around $78 billion, and that he’d pledged 238 million shares for personal loans. Borrowing against their vast portfolios, as ProPublica has detailed, is how Musk, Jeff Bezos, Michael Bloomberg, Warren Buffett, and other ludicrously wealthy Americans have managed to legally avoid the lion’s share of income taxes.
QT: https://press.coop/@MotherJones/111914807702849827