Democrat Congressman’s charity has more than $30 million in Cayman Islands

OAN Roy Francis
UPDATED 10:03 AM PT – Wednesday, March 15, 2023

Fox News reports that Representative Daniel Goldman (D-NY) has reported that Richard W. Goldman Family Foundation made investments in the Cayman Islands worth more than $32 Million.

Goldman, along with his two siblings, founded the organization in memory their father a decade back. “promote equality and eliminate barriers for the disadvantaged.”

According to tax filings reviewed by Fox News, the organization had invested $6.1 million and $26.1 millions in two private funds managed by BBR Partners LLC in the Cayman Islands. These funds were BBR Equity Long/Short Ltd., and BBR Absolute Ltd.

Cayman Islands is a popular tax haven among wealthy Americans, as it doesn’t tax personal income, capital gains, or payroll taxes.

Goldman’s foundation invested $32.2 million and $13 million in American funds managed in America by BBR partners. In 2020, the organization’s total assets were valued at $82.2 million.

New York lawmaker Goldman continues to serve on the foundation’s advisory board as of 2022. Since he took office in 2023, Goldman has called for tax increases by the government for the richest Americans.

“At a time of record wealth inequality, the wealthiest among us must help to provide more access for others to pursue the American dream that they have benefited so much from,” He said. “I’m proud to cosponsor the Billionaire Minimum Income Tax as a long-overdue piece of legislation that will level the playing field, incentivize investment in the economy, and expand opportunities for underserved communities.”

In January, he voted against legislation by the GOP that would have limited the size the Internal Revenue Service (IRS). He then took to Twitter and explained his position.

“While everyday Americans are struggling to make ends meet, we need to ensure that everybody — especially the wealthy — pays their fair share,” Goldman tweeted.

Bloomberg reports that Goldman is the heir to Levi Strauss Jean Company with a net worth of between $64 million and $253 million. His net worth places him among the richest members of Congress as well as in the top 1%.

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