Tax-Incentivized Opportunity Zones
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Sean Parker created Opportunity Zones, a government program that incentivizes investors to put money into underdeveloped areas while minimizing their capital gains tax exposure. The program has channeled billions of dollars into designated zones for development.
Key Points:
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Origin:
- Created by Sean Parker in early 2000s
- Initially motivated to minimize capital gains on his tech stock fortune
- Successfully lobbied Obama administration to make it reality
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Program Structure:
- Government designates specific zones as "opportunity zones"
- Targets impoverished areas and warehouse spaces
- Provides tax incentives for investors to develop these areas
- Focus on residential and commercial development
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Impact:
- Billions of dollars now flow through opportunity zones
- Changed federal law around development incentives
- Created new avenue for investors to minimize capital gains
- Established framework for directing private capital into underserved areas
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.