Revelations from nearly 12 million leaked confidential financial records have thrown light on the concealed wealth of powerful public figures around the world. How do they hide their money, and why is this information important?
The Pandora Papers were released this week showing that Jordan’s King – Abdullah II amassed $100 million in property including homes in The United States and London. An alleged mistress of Vladimir Putin, Russia’s leader managed to covertly buy a luxury residence in Monaco. Tony & Cherie Blair used a company structure avoiding paying Stamp duty on their London home. The Czech Republic’s prime minister, an anticorruption crusader, secretly acquired a French Riviera estate.
Revelations from the Pandora Papers report, a collaboration by the International Consortium of Investigative Journalists and media partners that include The Washington Post and The Guardian, began reverberating through and beyond the financial world of the rich and powerful almost immediately after the authors started releasing them on Sunday. In Today’s video we look at what data was released, and to what extent does it matter. We Discuss why wealthy individuals have moved their wealth into South Dakota Trusts and away from Switzerland and The Cayman Islands.
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