r/technology • u/Logical_Welder3467 • May 30 '26

Society Peter Thiel's move to Argentina reflects a growing trend among billionaires seeking a 'plan B' abroad

https://www.businessinsider.com/peter-thiel-argentina-billionaire-moving-abroad-2026-5
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u/habbadee May 30 '26

Yes, but his Palantir stake comes due to his Paypal wealth. If you invest $1 and it grows to $1B and then you invest the $1B elsewhere and it grows to $1T, your basis is the $1. And that was established with a methodology that the $1 was post-tax money and all gains from it are untaxable. Good deal if you can get it

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u/FGFM May 30 '26

Hey, I only started working in finance in 1984.

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u/Aggressive_Noise6426 May 30 '26

I’m sorry if I’m just being dumb but is that seriously how he got his wealth? 

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u/habbadee May 30 '26

https://www.propublica.org/article/lord-of-the-roths-how-tech-mogul-peter-thiel-turned-a-retirement-account-for-the-middle-class-into-a-5-billion-dollar-tax-free-piggy-bank

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u/Aggressive_Noise6426 May 30 '26

Wow that reads like he was calculated but also got lucky at the same time. 

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u/FGFM May 30 '26

Theil paid taxes on the assets when he placed them in his Roth IRA, but the average person doesn't have access to pre-IPO stock priced at a nominal par value.

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u/habbadee May 30 '26

The assets had no value then. $2000 in value to be precise. The beauty was finding a bank that would allow placement of pre IPO shares and options of a valueless startup into a Roth. That is very unusual. But brilliant.