Phil Anschutz, like most multi-billionaires, didn’t get rich being a passive dude. Case in point, Mr Anschutz just lost a battle with the IRS over $143.8 million in capital gains taxes that the Service argues he and his company, Anschutz, Co. owed for for transactions related to Union Pacific and Anadarko Petroleum.
According to Forbes’ latest Billionaire list, Phil is worth $6 billion. Before you reach for your 10-key, we’ll just tell you – this little capital gain issue amounts to less than 2.5% of his net worth.
In a similar vein, these transactions occurred in 2000 and 2001 so this particular battle is entering it’s second decade if you consider the birth of the transaction that gave life to the IRS’ beef.
Yes, he’s appealing ruling. See you in another 10 years.
Billionaire Anschutz Loses Capital Gains Ruling Over $144 Million Tax Bill [Bloomberg]