To be fair, foundation ownership is used more as a way to bypass estate taxes in German businesses [0] as a charitable foundation can continue to give 30% of it’s income to the family who founded the foundation. This is a common corporate structure for a number of other family run German companies (ThyssenKrupp, Aldi, Lidl, Bertelsmann, etc) to bypass estate taxes.
In American terms, it would be the equivalent of the Chan Zuckerberg Foundation owning 60-70% of Meta’s stock, and Zuckerburg’s children continuing to get dividends and a significant ownership stake in FB while also bypassing estate taxes.
In American terms, it would be the equivalent of the Chan Zuckerberg Foundation owning 60-70% of Meta’s stock, and Zuckerburg’s children continuing to get dividends and a significant ownership stake in FB while also bypassing estate taxes.
[0] - https://www.lexology.com/library/detail.aspx?g=f1b666a8-1257...