meta_pixel
Tapesearch Logo
Log in
Planet Money

We set up an offshore company in a tax haven (Classic)

Planet Money

NPR

Business, News

4.629.8K Ratings

🗓️ 6 October 2021

⏱️ 32 minutes

🧾️ Download transcript

Summary

The Pandora Papers released this week reveal how many world leaders allegedly hold wealth through the use of shell companies. We listen back to when we set up our very own Planet Money shell companies.

Transcript

Click on a timestamp to play from that location

0:00.0

Quick announcement here, we're going to be at New York City Comic Con this Friday, October

0:04.8

8th doing a panel about reviving an old superhero.

0:08.6

So if you're going to be there, look us up, come say hi, it'd be great to see you.

0:13.3

This is Planet Money from NPR.

0:16.6

Hey everybody, Alexi here.

0:20.4

This week, as you might have seen, the Pandora papers dropped.

0:23.8

This is a huge collection of nearly 12 million documents released by the International Consortium

0:29.0

of Investigative Journalists.

0:31.2

The papers reveal how many world leaders allegedly hold wealth outside of their countries.

0:36.3

The president of Kenya, for instance, was reported to have $30 million hidden in shell

0:40.7

companies, formed in Panama.

0:43.4

The Check Prime Minister was tied to a $22 million house in Cannes, France.

0:48.2

The King of Jordan was tied to more than $100 million in foreign property.

0:52.4

All of these properties were hidden through shell companies, and those shell companies were

0:56.0

often created right here in the US.

0:59.2

Since the leak, the politicians featured in the papers have defended their actions as legal,

1:04.4

but many are facing strong criticism in their countries.

1:07.5

In some cases, their holdings in other countries seem at odds with their anti-corruption pushes

1:11.8

at home.

1:12.8

This is of course the latest big leak of data at revealing how the world's elite handle

1:17.2

their money and often avoid paying taxes.

1:20.9

And some of the details in the papers reminded us of our experience when we set up our

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from NPR, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NPR and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.