Three strategies to help newly wealthy Silicon Valley techies diversify and avoid huge tax bills
Business Insider – Tech
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SpaceX employees going to work on the day of their company's IPO. Mike Blake/REUTERS The AI boom and big tech IPOs are generating unprecedented wealth across Silicon Valley. This wealth is tied up in appreciated tech company stock. Diversifying can trigger huge tax bills. Silicon Valley wealth advisor Joey Carney lays out three strategies that can help. An unprecedented wave of wealth is washing over Silicon Valley, and many tech employees will soon face a problem most people would love to have: what to do with company stock that has become worth a fortune. SpaceX's IPO has created thousands of new millionaires, and many centimillionaires. Other private tech companies, including Anthropic and OpenAI , have filed for IPOs, and big public tech companies such as Nvidia have made workers rich as their stock prices soared in recent years. This kind of wealth comes with a catch. Many tech employees are not sitting on piles of cash.
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SpaceX employees going to work on the day of their company's IPO. Mike Blake/REUTERS The AI boom and big tech IPOs are generating unprecedented wealth across Silicon Valley. This wealth is tied up in appreciated tech company stock. Diversifying can trigger huge tax bills. Silicon Valley wealth advisor Joey Carney lays out three strategies that can help. An unprecedented wave of wealth is washing over Silicon Valley, and many tech employees will soon face a problem most people would love to have: what to do with company stock that has become worth a fortune. SpaceX's IPO has created thousands of new millionaires, and many centimillionaires. Other private tech companies, including Anthropic and OpenAI , have filed for IPOs, and big public tech companies such as Nvidia have made workers rich as their stock prices soared in recent years. This kind of wealth comes with a catch. Many tech employees are not sitting on piles of cash. They hold company stock . If they sell those shares, they ca
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