Article alleges World Jewish Congress president dodges taxes using a series of loopholes.
By GIL STERN STERN SHEFLERRonald 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 Jewish Congress.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.
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