did you know why? #finance #animation #uk

Why do the world's richest people always create their own charities? And by the way, it has nothing to do with helping people. Tom just made £10 million. The government wants £3 million in taxes, but Tom refuses to pay. So he fills out some paperwork and creates a charity. He calls it the Tom Foundation. Then he donates all £10 million to his brand new charity. Since it's a charitable donation, the government rewards him. His tax bill instantly drops to zero. But didn't Tom just give away all his money? No, because Tom appointed himself CEO of the charity. As CEO, he legally pays himself a huge annual salary. He hires his friends and family to sit on the board of directors. He buys a luxury private jet with the charity's money. He tells the government it's a business expense for the charity's travel. He still controls all the wealth. He still lives like a king. But now, his money is legally untouchable by the taxman. and the best part, society thinks Tom is a hero.