Siebel's No Dummy
Why pay tax if you don't have to? Thomas Siebel used a corporate beast with the colorful name "horizontal double dummy" to avoid a big tax hit when he sold his Siebel Systems to Oracle (nasdaq: ORCL - news - people ) this year. Worth $1.5 billion and No. 242 on our rich list, Siebel sidestepped a capital gains tax bill of at least $58 million by employing the perfectly legal device. His Siebel stock was valued at $488 million at the time of the $5.8 billion merger.
Follow the link to see how they did it.
(Forbes.com)
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