'Two Times A Year I Go Broke' — Grant Cardone Explains Why He Bought Two $10 Million Helicopters On Dec. 31 To Avoid Paying Taxes
Tue, January 9, 2024, 12:02 PM EST
Entrepreneur and real estate mogul Grant Cardone has developed a unique approach to managing his finances and investments. In a recent
TikTok video, Cardone revealed his strategy of “going broke” twice a year to reduce taxable income.
“Two times a year I go broke because you don’t want a bunch of this sitting around (showing a stack of cash) because it gets taxed,” said Cardone, who has reported net worth of $600 million.
He told viewers he purchased two helicopters, each costing between $10 and $12 million, as a way to manage large sums of money and reduce taxes.
“The tax bill is the No. 1 greatest expense, any family has," he said. "It is the I the R and the S.”
His statement highlights the burden that taxes can impose, particularly on families trying to manage their finances effectively in the current economy.
-- alright smart as heck.