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?

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 4 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 3 hours ago \| parent [-]
		Billionaires can financial engineer their way around those types of rules quite easily