Ronald Lauder 311.
(photo credit: Reuters)
An article in The New York Times published on Sunday claimed Jewish-American
billionaire Ronald Lauder uses elaborate means to avoid paying tens of millions
of dollars in taxes each year.
According to the article, the businessman,
whose fortune is estimated at more than $3.1 billion, employs a “sophisticated
tax strategy used to preserve a fortune that Forbes magazine says makes him the
world’s 362nd wealthiest person.”
In 2011, Lauder entered a complicated
deal to sell stock that saved him $10 million in taxes. It also cited cases
where he successfully managed to get reductions to taxes paid on the family’s
fortune, including on his mansion in Florida.
It singled out the heir to
the Estee Lauder cosmetic company fortune as an example of an allegedly flawed
system by which the super-elite have dodged paying taxes using a series of
loopholes and offshore accounts.
Lauder is the president of the World
Over the years he has donated millions to Jewish causes
in Israel and around the world. In addition to his many businesses in Israel he
is also the part owner of Channel 10.