Wall St. Journal: “Did George Steinbrenner save his heirs millions by dying in 2010? Forbes recently estimated the Yankees owner’s net worth at $1.1 billion, largely from the YES network. The New York Yankees, which he acquired in 1973 for $10 million, are now worth $1.6 billion but are 95% leveraged due to debt from the new Yankee Stadium, according to Forbes. Because Steinbrenner died in a year when there is no federal estate tax, he potentially saved his heirs a 55% estate tax on his assets — or a tax bill of about $600 million.”
How George Steinbrenner Saved His Heirs a $600 Million Tax Bill by Dying in 2010
By On the Net|2011-05-19T09:59:03-07:00July 14th, 2010|
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