Lord Of The Roths: How Tech Mogul Peter Thiel Turned A Retirement Account For The Middle Class Into A $5 Billion Tax-Free Piggy Bank
by Justin Elliott, Patricia Callahan and James Bandler
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Billionaire Peter Thiel, a founder of PayPal, has publicly condemned “confiscatory taxes.” He’s been a major funder of one of the most prominent anti-tax political action committees in the country. And he’s bankrolled a group that promotes building floating nations that would impose no compulsory income taxes.
But Thiel doesn’t need a man-made island to avoid paying taxes. He has something just as effective: a Roth individual retirement account.
Over the last 20 years, Thiel has quietly turned his Roth IRA — a humdrum...