Lee Kun Hee, the founder а South Korea’s largest corporation Samsung, stored several billions of dollars in offshores to avoid the taxes. The government has recently caught him.
Earlier this year, prince Alwaleed bin Talal was placed under house arrest in Saudi for tax evasion. The amount of ransom for Prince Talal’s freedom is $7 bln.
Financial analyst Max Keiser criticized Talal for his suspicion of bitcoin – prince called bitcoin “Enron in the making”. Needless to say, that Talal wouldn’t need to pay most of his wealth to the government, if he stored it in a decentralized store of value.
“He [Talal] said Bitcoin was no good because there is no central government and no central bank. And then a week later, the central bank and the central government rips out all of his net worth. If he had them in Bitcoin, he wouldn’t have that problem. He is like a poster child for why you should buy Bitcoin. Anyone who is thinking about should I buy Bitcoin, look at [Talal] sleeping on a mattress of a rich hotel under house arrest. Furthermore, he is overrated as a money manager.”