Real answer are probably tax benefits for Ross.

He can now report a $100M donation, let it grow for 20 years, pay the actual donation, and pocket the remainder tax free.

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the_sleaze_ 3 hours ago | parent | next [-]

It's called a grantor retained annuity trust (GRAT) and more than beng able to retain the initial investment at the end of a period of time, he would be able to take loans against the principal itself in the meantime (LALs).

However -

> The USPOC currently supports ~4500 athletes, or ~$22,222 each.

Machinations of the uber rich and the morality of them aside, they would've gotten nothing and now they're getting something.

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ex-aws-dude 3 hours ago | parent | prev [-]

But if he retains the money while its growing wouldn't that result in capital gains?

You can't claim a donation while still holding onto the money?

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conductr 3 hours ago | parent [-]

He'll donate to a trust/non-profit he controls that will direct the investment. That allows him to take the tax benefit today and keep the money

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nulbyte 3 hours ago | parent [-]

Not if he controls the funds. Tax deductions are only afforded to contributions if they are charitable and am actual gift. If the contributor benefits, it is bit deductible, and control of donated funds is a benefit, as is the ability to direct funds to a particular person or persons.

	▲	conductr 2 hours ago \| parent [-]
		Billionaires can financial engineer their way around those types of rules quite easily