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World’s billionaires should pay minimum 2% wealth tax, say G20 ministers
(www.theguardian.com)
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this post was submitted on 25 Apr 2024
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So what I am hearing: buy shit in a different country than the one you are running, where you can't tax it. No investment and jobs for your economy.
Also, how do you determine the value of an ltd? Not all companies have shares and share price.
Private companies are valued all the time, typically it's by calculating a multiple of EBITDA, with some variations for particular industries
Twitter is a private company. Has been since Musk bought it and took it private.
And yet, we can still calculate that its value has fallen substantially since that happened.
https://www.theguardian.com/technology/2024/jan/02/x-twitter-stock-falls-elon-musk
First of all, the article clearly states Fidelity owns shares, hence it is not fully private. Second of all, you are talking about the assessment of the company that holds the shares. Are you suggesting an honor system where everyone estimates their own wealth?
Private companies can still sell shares. They're just not publicly traded.
Ok, technically you are right although since Fidelity is publicly traded, it is a somewhat special case IMO. That is what I meant by it not being fully private. If it was owned ultimately by an individual, there would be no reason for such disclosure.
More importantly, this does not change my argument about it being a self reported value.