+ Reply
Results 1 to 17 of 17

Your favorite Apple, iPhone, iPad, iOS, Jailbreak, and Cydia site.


Thread: Jobs' Heir To Manage $4.6 Billion Trust of Disney Shares

is a discussion within the

Mac News

forums, a part of the

General Apple/Mac

section;
...
  1. #1
    MMi Staff Writer Akshay Masand's Avatar
    Join Date
    Sep 2011
    Location
    New York City
    Posts
    3,150
    Thanks
    3
    Thanked 104 Times in 90 Posts

    Default Jobs' Heir To Manage $4.6 Billion Trust of Disney Shares


    After Jobs passed away last month, speculation arose as to what would be done with his estate. As of right now, it is estimated to be worth roughly $7 billion. Recent securities filings revealed that his Disney shares, which represented the majority of his wealth have been placed in a trust. This trust is Disney’s largest shareholder with a 7.7 percent stake in the media conglomerate. The shares were originally acquired by Jobs in 2006 when he sold Pixar to the company for $7.4 billion. At the time, he owned more than half of Pixar’s stock.

    Recently, tax experts continue to suggest that Jobs’ family should sell off all of his Apple and Disney stock in order to avoid higher taxes later on while also diversifying their portfolio. Furthermore, according to a recent report from Bloomberg, the family could have saved $867 million in capital gains taxes. Kacy Gott, the Chief Planning Officer at the Wealth-Management firm Aspiriant told the publication that she “can’t see any reason not to sell all of it. They should have been looking to diversify years ago.”

    Placing the shares into a trust is a method for mitigating tax exposure on gains made from the shares, although it isn’t clear exactly what type of trust was set up in this case. According to Bloomberg, earlier proxy statements showed that Jobs was in the process of moving his assets into trusts toward the end of his life. The trust is currently estimated to be valued around $4.6 billion. As of right now, people continue to speculate that Powell will use a portion of the trust’s funds for philanthropic work since she’s been an active participant in the non-profit sector and even sits on the board of the Teach for America program. Her next move remains unknown but time will tell what she ends up deciding upon.

    Source: Associated Press, Bloomberg

  2. #2
    What's Jailbreak?
    Join Date
    Apr 2010
    Posts
    26
    Thanks
    0
    Thanked 2 Times in 1 Post
    They could give it to me

  3. #3
    My iPhone is a Part of Me delusion950's Avatar
    Join Date
    Aug 2008
    Location
    The Patriots Area
    Posts
    796
    Thanks
    56
    Thanked 75 Times in 60 Posts

    Quote Originally Posted by rockxz3 View Post
    They could give it to me
    Me too! higher taxes? really? havin 7bil nd worryin about taxes? Really? They prob want to take all of their money so threyre suggesting sell stocks. Fu**ing pricks.

  4. #4
    iPhone? More like MyPhone DaLsim's Avatar
    Join Date
    Jun 2011
    Posts
    217
    Thanks
    0
    Thanked 6 Times in 5 Posts

    Rich people dont want to pay taxes? But they paid taxes B4 they was rich?

  5. #5
    Starbucks Artist mmaboi21's Avatar
    Join Date
    Jan 2011
    Location
    Bakersfield CA.
    Posts
    2,389
    Thanks
    158
    Thanked 207 Times in 160 Posts

    I already got a cut of it.

  6. #6
    iPhone? More like MyPhone RoloDiva13's Avatar
    Join Date
    Apr 2011
    Location
    Orlando, Florida, United States
    Posts
    102
    Thanks
    1
    Thanked 0 Times in 0 Posts

    Quote Originally Posted by DaLsim View Post
    Rich people dont want to pay taxes? But they paid taxes B4 they was rich?
    An estimated $867 Million in taxes?? Uhm yeah, I'd be figuring a way to avoid that, too.

  7. #7
    iPhone? More like MyPhone runey71's Avatar
    Join Date
    Mar 2010
    Posts
    133
    Thanks
    27
    Thanked 8 Times in 8 Posts

    Seriously do they really think the family care all that much about saving some tax money whilst they are still mourning the loss of a loved one.

  8. #8
    My iPhone is a Part of Me mofolo's Avatar
    Join Date
    Sep 2007
    Posts
    561
    Thanks
    19
    Thanked 35 Times in 28 Posts

    Quote Originally Posted by DaLsim View Post
    Rich people dont want to pay taxes? But they paid taxes B4 they was rich?
    1-5k of tax for the average income earner is seen as pretty acceptable, plus with less money means less resources such as tax accountants.. but 700 Million? That's a bucket truck load of money. I wouldn't pay that much either!

    Plus there are so many loopholes in the tax system - its beneficial for a person with a lot of money to pay $100k for an good accountant than $700Million in taxes!
    myRepoSpace.com - Easily create your own Cydia Repo.

  9. #9
    What's Jailbreak?
    Join Date
    May 2010
    Posts
    13
    Thanks
    0
    Thanked 0 Times in 0 Posts

    I'm a Powell
    Does that mean im now rich?

  10. #10
    iPhone? More like MyPhone Cellular's Avatar
    Join Date
    Oct 2011
    Posts
    116
    Thanks
    0
    Thanked 3 Times in 3 Posts

    This is the biggest problem with America. How the rich don't pay taxes . I don't know why, they should pay the same taxes per dollar like we do.
    8.25% flat tax rate would be equal but not equal at the same time.
    Rich people not wanting to pay there share fking a**holes.
    "America made them rich, why not give back to the place that got you rich?" hence taxes...tax breaks or not it's not like apple will hire anyone in America. Jobs didnt make jobs...

  11. #11
    My iPhone is a Part of Me delusion950's Avatar
    Join Date
    Aug 2008
    Location
    The Patriots Area
    Posts
    796
    Thanks
    56
    Thanked 75 Times in 60 Posts

    Quote Originally Posted by runey71 View Post
    Seriously do they really think the family care all that much about saving some tax money whilst they are still mourning the loss of a loved one.
    Everyone wants piece of Steve even more now that he passed away.

  12. #12
    The Dude Abides mr117's Avatar
    Join Date
    Jun 2007
    Posts
    593
    Thanks
    49
    Thanked 100 Times in 74 Posts

    Seems kind of mean to be making negative comments about people a few weeks after a member of their family dies. It's not their fault they've now got so much money. As to taxes, show me one person on this forum who WANTS to pay taxes. I think we need to, to pay for the services we receive, and to keep the country going, but I sure don't like paying them. No one here does, but they need to be paid. But I bet everyone here makes every attempt possible to NOT pay any more than is absolutely required. We all take our deductions, don't we? Why shouldn't they have the same right? If they want to save money, until the laws change they can use the current tax code as they like. Is it fair or not is another question- if you don't like how taxes are levied disproportionately to the rich and the not rich, tell your elected representative. Or better yet, vote him/her out of office and try another one who hasn't sold his/her soul yet. As to a flat tax, that's a real crock. You make 50K and pay 10%. You have 45K left over. Someone else makes 1M and pays 10%. S/He has 900K left over. You can maybe make your rent and drive a 5-year-old car, they can buy a new house every year and send their kid to Europe to a nice private school. The French Revolution started in part because the First and Second Estates (Nobles and Church-who were also Nobles) paid no taxes and voted against every attempt by the Third Estate (the middle and lower classes) to stop being the ONLY ones paying taxes. But until we change things (with our votes), there is no reason that the Jobs family can't do whatever they want with their money. Oh, and WE gave them that money, when WE bought all the cute things Steve created. It's a bit late now to begrudge them for having the money we gave them, isn't it?

  13. #13
    Green Apple HCWHunter's Avatar
    Join Date
    Jun 2010
    Location
    So. Calif.
    Posts
    91
    Thanks
    1
    Thanked 5 Times in 4 Posts

    Quote Originally Posted by Cellular View Post
    This is the biggest problem with America. How the rich don't pay taxes . I don't know why, they should pay the same taxes per dollar like we do.
    8.25% flat tax rate would be equal but not equal at the same time.
    Rich people not wanting to pay there share fking a**holes.
    "America made them rich, why not give back to the place that got you rich?" hence taxes...tax breaks or not it's not like apple will hire anyone in America. Jobs didnt make jobs...
    No, the biggest problem in America is that 47% of the people don't pay ANY income taxes at all. Since they don't have any skin in the game they vote for whoever promises them the most bennies. The top 1% of income earners already pay 37% of the total income taxes. The top 25% pay 86%. How much is enough? As for Apple hiring, they employ over 46,000 employees worldwide, the majority in the U.S. Yes, most products are made or assembled in Asia, but that's true of almost all electronics.

  14. #14
    iPhoneaholic Donnutt's Avatar
    Join Date
    Feb 2011
    Location
    Great Falls Montana
    Posts
    450
    Thanks
    11
    Thanked 30 Times in 24 Posts

    Quote Originally Posted by HCWHunter View Post
    No, the biggest problem in America is that 47% of the people don't pay ANY income taxes at all. Since they don't have any skin in the game they vote for whoever promises them the most bennies. The top 1% of income earners already pay 37% of the total income taxes. The top 25% pay 86%. How much is enough? As for Apple hiring, they employ over 46,000 employees worldwide, the majority in the U.S. Yes, most products are made or assembled in Asia, but that's true of almost all electronics.
    Thank you for writing the first post in this thread that makes any sense. Until now all I heard was whiny people with entitlement issues.

  15. #15
    iPhone? More like MyPhone
    Join Date
    Mar 2009
    Posts
    206
    Thanks
    46
    Thanked 1 Time in 1 Post
    Quote Originally Posted by Cellular View Post
    This is the biggest problem with America. How the rich don't pay taxes . I don't know why, they should pay the same taxes per dollar like we do.
    8.25% flat tax rate would be equal but not equal at the same time.
    Rich people not wanting to pay there share fking a**holes.
    "America made them rich, why not give back to the place that got you rich?" hence taxes...tax breaks or not it's not like apple will hire anyone in America. Jobs didnt make jobs...
    YOU ARE 100% ON THE MONEY!!

    That is why we will always be broke & they will always be rich!
    iPhone 5
    iPhone 4
    iPad2 64gb wi-fi
    iPad1 64gb/3G/wi-fi

  16. #16
    iPhoneaholic Donnutt's Avatar
    Join Date
    Feb 2011
    Location
    Great Falls Montana
    Posts
    450
    Thanks
    11
    Thanked 30 Times in 24 Posts

    Quote Originally Posted by cjuni View Post
    YOU ARE 100% ON THE MONEY!!

    That is why we will always be broke & they will always be rich!
    No, you will always be broke because you do not have either the idea, motivation, or gumption to get off your butt and work for it. The fact that you are broke is no one's fault. (but yours)

  17. #17
    The Dude Abides mr117's Avatar
    Join Date
    Jun 2007
    Posts
    593
    Thanks
    49
    Thanked 100 Times in 74 Posts

    Well......let's look at the (factual) charts, shall we?

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts