Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank
There was another article about another PayPal mafioso doing the same thing, Max Levchin, in Forbes back in 2012…<p><a href="https://www.forbes.com/sites/deborahljacobs/2012/03/20/how-facebook-billionaires-dodge-mega-millions-in-taxes/?sh=7ccdbc7558f3" rel="nofollow">https://www.forbes.com/sites/deborahljacobs/2012/03/20/how-f...</a><p>It says the following:<p>“Tax rules bar you from investing your IRA or Roth IRA in a business you control—such a “prohibited transaction” can render the IRA immediately taxable and ­possibly subject to penalties.”<p>Thiel and levchin, and probably many many others have certainly skirted the spirit of the Roth IRA.