Explains how billionaire grew wealth from @bentheplanner
The creator explains the story of Peter Thiel's $5 billion Roth IRA. He chronologically details how Thiel started with a $1,700 investment in 1999, used it to buy founder's shares in his company Confinity (which became PayPal), and then reinvested the proceeds tax-free into other successful ventures like Palantir, Facebook, SpaceX, and Airbnb, culminating in a multi-billion dollar, tax-free retirement account.
Creator: @bentheplanner on TikTok
Transcript
2027, Peter Thiel will have access to $5,000,000,000 completely tax free, and it's all possible because he used his Roth IRA. This is how he did it. In 1999, young 31 year old Peter Thiel saved $1,700 in his Roth IRA, where he then bought 1,700,000 founder shares of his startup Confinity at a tenth of a penny each. In 2000, his company merges with elon'sx.com and the combined company becomes PayPal. In 2002, eBay buys PayPal for $1,500,000,000. Thiel's account grows to 20 and now he can reinvest
Topics: Personal Finance, Finance, Business, Entrepreneurship
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