← All companies

Carlyle Group

PE firm founded with proceeds from the Alaskan tax scheme

7 transcript mentions
Mentions over time
7 total · by year · from the transcripts
’19’20’21’22’23’24’25’2634
7
mentions
2
receipts
0
numbers
1
episodes
By type
2
  • Story1 · 50%
  • Billy1 · 50%
By speaker
2
  • Sam2 · 100%
By topic
4
  • Investing2 · 50%
  • Acquisitions / M&A1 · 25%
  • Personal Finance1 · 25%
Shows up most in
#836We found an app that lets you buy anything for $02×

Comes up with

most-shared episodes
Collectors UniverseCompany1×CostcoCompany1×David RubensteinPerson1×Goldman SachsCompany1×Lloyd BlankfeinPerson1×Nat TurnerPerson1×Nick SleepPerson1×Peter ThielPerson1×

In the moments

2 linked receipts
Story

David Rubenstein funded Carlyle Group with a $20M Alaskan tax-loophole scheme

After Jimmy Carter's one-term presidency left Rubenstein jobless at 31, he exploited an Alaskan native tax-loss loophole — brokering ~$2B in tax-loss transactions — to accumulate ~$20M. That seed capital became the launch fund for Carlyle Group, now a $500B PE giant.

“he organized a bunch of buyers and sellers, meaning if you wanted, you could— they could sell $10 million in tax write-offs to willing buyers for $7 million in cash. And thus the buyer got a reduced taxable income of $3 million. And David, like, heard about this and he's like, that's interesting. And so him and a couple of friends organized roughly $2 billion in these, like, in, like, in transacting these tax losses. And after doing that for 2 or 3 years, they had made something like $20 million. And that's the money that they used 3 years later to eventually start Carlyle Group, which is now one of the largest PE firms in the world.”
EP 836 · 33:17 · SAM
Read at 33:17
mfmindex.com№ 0836-1997
Billy

David Rubenstein: billionaire who privately owns Magna Carta, funds US monuments

Beyond building Carlyle Group, Rubenstein privately owns one of the last copies of the Magna Carta ($21M), a Lincoln-signed Emancipation Proclamation, and a piece of the Declaration of Independence — while funding restoration of the Washington Monument, Lincoln Memorial, and Kennedy Center.

“He owns one of the— I think it's one of the last privately owned copies of the Magna Carta, which is this historical— one of the most, like, historical documents of all time. For $21 million, he bought it. Owns one of the last pieces, one of the last bits of the Declaration of Independence. He owns a Lincoln-signed Emancipation Proclamation. He funded the Washington Monument when it needed to get rebuilt. He funded the Lincoln Memorial when it needed to get rebuilt. He funds all these amazing things. So like the Kennedy Center, he helped do.”
EP 836 · 36:51 · SAM
Read at 36:51
mfmindex.com№ 0836-2211