Re: Investing in Greg - the big payoff and IRS
This is my guess based on what I have read:
The deal he offered in 2002 was (after initial investment repaid):
35% to Greg for time/effort
65% to backers based on share
Greg did not "sell" 100% of himself, so he gets a big chunk of the 65% too. And the $10,000 buy-in price or $150 qualifier price means nothing, they were just a small part of many investments in many games. So a $1000 investment may only mean a 2% share in Greg.
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