Page 107 - Forbes - USA (November 2019)
P. 107

THE FORBES INVESTIGATION







                                  P R I VA T E   E Q U I T Y ’ S




                                   N E W   B I L L I O N A I R E                                                                                       103




                                                         M A C H I N E

































































                                        AS CALLS FOR TAXES ON THE SUPERRICH GROW
                                  LOUDER, WALL STREET’S SMARTEST DEALMAKERS HAVE
                                   QUIETLY DISCOVERED A NEW WAY TO UNLOCK VALUE

                                       AND CIRCUMVENT TAXES. IT’S MINTING BUYOUT
                                                       BILLIONAIRES BY THE DOZEN.









                          BY NATHAN VARDI AND ANTOINE GARA                           PHOTOGRAPH BY ROBERT GALLAGHER FOR FORBES


                N O V E M B E R   3 0 ,   2 0 1 9                                                                                   F O R B E S . C O M
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