Peter Thiel’s Tax-Free Piggy Bank; The Dramatic Tale of John McAfee

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 24 June 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

A new ProPublica report reveals that tech mogul and PayPal founder used a Roth IRA account to turn $1,700 to $5B, tax free. CNBC wealth reporter Robert Frank shares more on how he did it, and Skybridge Capital founder Anthony Scaramucci discusses tax loopholes and capital growth for the wealthy. Senators have struck a deal for a bipartisan infrastructure bill framework; Rep. Josh Gottheimer (D-NJ) and Sen. Rob Portman (R-OH) discuss the road still ahead, mapping out speed bumps and red light issues along the way. Plus, eccentric tech entrepreneur turned fugitive John McAfee’s long and dramatic story has come to an end. After over two decades of coverage at CNBC, Joe, Becky, and Andrew unpack the strange and stranger of McAfee’s journey from software to a prison sentence in Spain. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	He's like playing us from the grave.
0:04.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer today on our podcast.
0:09.0	Building the bill for the build.
0:16.7	The lawmakers in the room where it happens for infrastructure with a bipartisan approach. House Democrat Josh Gotheimer.
0:20.1	Line by line making sure we're investing in the right policy and with the right dollars.
0:25.0	And Republican Senator Rob Portman.
0:27.0	Before the pandemic, we had rising wages.
0:29.0	We had the lowest poverty rate in the history of the country.
0:31.0	We had a lot of good stuff going on.
0:33.0	Peter Teal turning a Roth IRA into a tax-free piggy bank for billions,
0:38.0	breaking down the latest ProPublica report about the wealthy and their taxes with Anthony Scaramuchi.
0:44.0	Some people will say that that's unfair, but that is really the bedrock of the capitalist system
0:49.0	to allow capital to form.
0:51.0	And then, of course, to be barring against your capital that's as old as
0:54.3	anything in our societies. And Joe Becky and Andrew on software magnet John
0:59.5	McAfee his dramatic story decades long on the NBC comes to an end.
1:04.0	He was a real piece of work.
1:06.0	I mean, he's like playing us from the grave.
1:10.0	It's Thursday, June 24th, 2021.
1:12.8	Squack Pod begins right now.
1:15.0	Stand Becky by, and three, two, one, fuel, please.
1:19.0	Good morning, everybody.
	...

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