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They're such great investors!
(lemmy.world)
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this post was submitted on 01 Apr 2024
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Roth IRA: Can only put in $6,000 per year by law.
A congressional representatives I can't remember the name of: Has over 2 million in Roth IRA.
Some law was broken at some point.
Peter Thiel also. As far as I know, he legally contributed to the IRA and then invested the money in his own businesses, which grew several thousand percent.
That's not necessarily the case. Wasn't it a big issue recently saying that high tech earners had been putting shares of startups into their Roth IRA then it was worth way more than intended later?
Backdoor Roth conversions + outsized gains like mentioned in the image would pretty easily explain that, which is all "perfectly legal"
In 2012, Mitt Romney had over $100 million in a Roth IRA.