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Why Chinese rich people donate money abroad

Americans:? Donate.

Chinese:? Don’t donate. Rich Chinese immigrants immigrate to Europe and America:? Donate. Why do Steve Jobs, Bill Gates, and Buffett all announce naked donations?

Naked donation means donating all the wealth and leaving nothing behind.

Why are they so noble, so philanthropic, and so cold-blooded towards their children? Where is their greed for money?

Before commenting on them, know that there is something called the "estate tax" in the United States.

This tax stipulates that after a rich man dies, he cannot leave all his inheritance to his descendants. The government has to charge a 50% inheritance tax, which means that his children can only get half of the property. The law will tell you what it means to be rich for more than three generations.

Is there any way to save the property?

Of course it's hard for these rich people.

That is to do charity, create your own foundation, and let your children be the managers of the foundation for generations to come. Then the money will be in the hands of your children.

Charitable foundations only need to allocate 5% of their funds for charity every year. This 5% also includes the daily expenses of the foundation, such as the high salary of future generations of managers and daily travel expenses for food, drink, and toilets, etc.

Also, these big families have to deal with politicians. It is illegal to give money directly and their reputation is not good. So what should we do? Serve the people together and do charity together. Your help cannot be in vain. The hard work costs hundreds of thousands of dollars a year.

, you have to accept whatever you say.

Politicians have money in their hands, because they are keen on doing charity. They can also increase public support during the election campaign, and political opponents have no excuse to attack. They gain both fame and fortune, which is perfect.

So what does the foundation do with the rest of its money?

You can use this money to invest. For example, Bill Gates' charitable foundation has an annual investment return of up to 18%. If you use 10 billion as a charity fund, you will still get 1.8 billion in annual income.

And after the foundation has been in operation for twenty years, the remaining money from the foundation will be given to the owners of the foundation, and they can spend it as they wish without paying taxes.

The money just took a trip and returned to my family.

What’s even more cruel is that in order to encourage charity, European and American countries offer a 20% tax rebate for donations. This is not a donation, it’s just money!

So why don't our country's richest people follow suit? Because our country stipulates that charitable foundations must spend at least 70% of the charitable donations they receive every year, which has long since blocked the loophole.

This explains why many wealthy people in our country are particularly keen on charity after changing their nationality.

This has nothing to do with being patriotic and traitorous, it is just a magic trick to keep the money in your pocket from being snatched away.

The reason why rich people become rich is that they have many twists and turns in their minds.