President Abraham Lincoln. Civil rights activist Martin Luther King, Jr. Rock guitarist Jimi Hendrix. Eccentric billionaire Howard Hughes. Singer/songwriter Bob Marley. NFL quarterback Steve McNair. Singer/songwriter Prince.
What do Mark Zuckerberg of Facebook and Sheldon Adelson of Las Vegas Sands Corp have in common? For one, they are highlighted on the Forbes “America’s Richest People” list. MSN has also reported that both are taking advantage of a tax loophole called the Grantor Retained Annuity Trust (GRAT) which allows wealthy Americans to direct excess earnings to their heirs without incurring the consequences of the 40 percent federal estate and gift tax.