Michel Del Buono

speaker

515 appearances 1 recordings 1 series first heard May 2026 last heard 22 May

Michel Del Buono’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in May 2026 with 1.

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Sourcery · Inside Marc Andreessen & Ben Horowitz's Multi-Family Office (Part II) · 22 May 2026 podcast

But you're gonna have several trusts

that will be dedicated to different members of your family or different entities.

Okay.

And each of those should probably have a different investment strategy.

So if you're young, you're young and you inherit or your parents set up for you, you know, trust with a lot of stock in it,

you have a very long time horizon right because you're young so there the appropriate investment strategy is different than for you know an individual who's older and has cash needs to to fund their life so it's all about figuring out for each piece of that mosaic of trust that you're creating what's the optimal strategy investment strategy to operate inside of them it's not you can't just photocopy the same thing for all the different trusts and that's where it gets complicated i think that's where people sort of get confused right

And it's not unusual to see people with many, many trusts.

So that makes the problem that much more complicated.

I mean, QSBS is an incredible benefit for small businesses.

And so for founders who start early in the life of the company, they get $10 million.

Now actually starting, I guess, at the beginning of this year, up to $15 million off their tax or $15 million of proceeds from their stock sale would be not taxed.

So it's a huge benefit, it's a huge motivator for people to actually go into startups.

I was recently speaking to some people abroad in Asia who wanted to sort of create an entrepreneurial community and they said, what's so special about America?

And one of the things I think is

The tax code, the environment, the culture of trying to start something is very important, including this QSBS benefits, very important motivator to think that, hey, you know, if I work like crazy and dedicate myself to something, you know, I get to keep some of the proceeds in an advantaged way.

So so a lot of these strategies of having multiple trusts are to try to multiply these QSBS benefits across the different trusts.

That's what stacking means.

Oh, okay.

So you can have several trusts for your kids, your parents, whatever.

And each of those, depending on how you structure them, and it's complicated and probably above my legal knowledge, but each of those can get, if it's structured right, its own QSBS exemption.

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