18 PRIVATE EQUITY EXECS WORTH $2 BILLION EACH

“Until recently, relatively little attention had been paid to one source of [David] Rubenstein’s wealth, which he has quietly fought to protect: the so-called carried-interest tax loophole. The tax break has helped private equity become one of the most lucrative sectors of the financial industry. Since the end of the recession, private equity has reported record profits, and at least eighteen private-equity executives are estimated to be worth two billion dollars or more each. And during the current Presidential campaign, with its populist themes, the loophole has become a target among Democrats and Republicans alike.

Alec MacGillis, “The Billionaires’ Loophole,” New Yorker, March 14, 2016, pp: 64-73.