Latest / The Curve / Should Billionaires Be Taxed? + Taylor Swift & Travis Kelce's $20M Wedding.

Transcript

Should Billionaires Be Taxed? + Taylor Swift & Travis Kelce's $20M Wedding. · The Curve

0:01
Coming up in today's episode, a massive fight between me and my co-host Victoria Harris.
0:07
We're talking about billionaires, how they should be taxed.
0:10
There's a lot going on in California at the moment, and we have quite differing opinions
0:14
on the best way to get money out of the richest people in the world.
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And then the royal wedding.
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We break down how much Taylor and Trevor spent on their wedding and the fact they spent more
0:26
on parking than the average cost of a US wedding.
0:29
Welcome to The Curve Weekly, where we read the finance news so that you don't have to.
0:33
I'm Vic Harris, a finance professional who's had a career making money for other people.
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And I'm Sophie Hallwright, ex-TV radio producer who was very sick and tired of not understanding
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the economy, so we started this podcast.
0:45
But before we dive into today's headlines,
0:46
a quick word from today's sponsor.
0:56
building a track record as a kiwi saver provider takes time and the real test is whether they can
1:01
keep delivering returns year after year after year find out more about generates track record
1:07
and see their disclosures in the podcast show notes and remember that track record does not
1:11
guarantee future returns vick what is happening how are you how's new zealand give us updates
1:18
I'm good.
1:19
There's some great perks about being home.
1:21
Firstly, you know, my parents treating me like an absolute child, which I'm just like really leaning into.
1:27
Yeah, doing my laundry.
1:28
I like literally came home at, was it like 6pm?
1:32
Dinner was ready.
1:33
I ate it for like 20 minutes, then jumped on another call.
1:36
Didn't do the dishes.
1:38
But also I love, you know, all that like Whittaker's, Vogel's, you know, all the, what do you call them?
1:44
Delicacies.
1:45
and also my favorite.
1:49
I'm so jealous.
1:50
I'm so jealous.
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God, I love an Almighty.
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Not sponsored, just so everyone knows,
1:55
but God, I love those drinks.
1:56
No, but go out and buy one, please.
1:58
Everybody listening to this podcast.
2:00
Why?
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You know, invest in what you love,
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invest in what you know.
2:03
No way have you invested.
2:05
I have.
2:05
I'm so jealous.
2:07
Why did you not tell me about this?
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I know I should have.
2:09
Sorry, it happened really quickly.
2:11
I feel like I brought the Almighty bandwagon to you
2:14
and now you've cut me out of the deal.
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I'm so tough about this.
2:18
I'm sorry.
2:18
I'm sorry.
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But yeah, go buy some, please,
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so that it can put more money in my pocket.
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It would be fantastic.
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But it is a classic example, right?
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I don't feel guilty now.
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And now I have a much more wedded interest
2:33
in seeing it sold out on shelves
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and like new flavors and all of that.
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I'm like, ooh, ooh.
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Yeah, it's quite fun.
2:40
Yeah, it is super fun.
2:41
And for anyone that's like, what do you mean?
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this is just the idea of if you invest in things you know you see around it's so much more fun you
2:50
feel like a way more active investor because you can see when a product's doing well like even
2:56
i was listening to the shameless podcast the other day and they have lululemon sponsoring
3:00
their podcast at the moment and they've brought out this whole new align um line a line of a line
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you know what i mean align line yeah they've brought out a whole new um bunch of products
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are like you know that really buttery fabric by the way this is not paid for although it really
3:16
sounds like it is that I love I'm obsessed with it they feel like you're not wearing pants and
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I've had them forever you know the ones I'm talking about they're like they have no seams
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anyway that to me was like the best product that Lululemon ever brought out the fact they're
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doubling down on something that I know that I've used that I really like made me think maybe their
3:36
share price will come out of the toilet you never know I'm an LO convert oh god I'm wearing them now
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actually let's see can you see no i can just see your crotch she's literally opening her thigh
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right to the center of the camera like no i can now just see your bum yep i can see it nice fit
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very good oh my god please if anyone's not watching this watch it it's so funny they suck
3:58
in everything they hold it like it's great it's like i'm wearing a second skin it's great been
4:03
been a true lululemon you know supporter for many years but i just wanted some brown ones and they
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I had, Ello had them and I bought them and I was like, oh my goodness.
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Okay, love it.
4:15
Before we move into today's stories, I just want to say we have been nominated.
4:20
Actually, Emily put us forward for this and our producer.
4:23
And I must say, I would never have applied for this because I just would have assumed there's no hope in hell that we would win this or even like be in the running.
4:31
I'm sorry.
4:32
I would not submit an entry because I'm not going to win.
4:36
What if Sina, who just won Wimbledon, was like, you know what?
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I'm not going to win.
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So why would I enter?
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You know?
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Are we comparing the winner of Wimbledon to our podcast?
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Yes.
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My point is we're New Zealand gals, you know?
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Yes, we've made our way across the world to the UK.
4:54
But it's kind of crazy to think that a New Zealand-based podcast that's now in the UK is nominated.
4:59
Anyway, the point of this is just to say, if you've listened to even one podcast and you've enjoyed it, could you please vote for us?
5:08
We'll link that in the podcast show notes.
5:09
I think it would probably be up there with the coolest thing that's happened to the curve.
5:13
Would you get a Union Jack tattooed on your ass?
5:15
Oh, shit.
5:17
Shit.
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Would it have to be filled in or could it be the outline?
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Like it makes a difference.
5:23
It's a tattoo on your ass.
5:25
Like I honestly think I want to say yes.
5:27
If we won this, maybe I will get a butt tattoo.
5:29
I'm surprised you weren't like, how big?
5:31
Is it filled in or is it outlined?
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Would not be the first thing I'd ask.
5:35
Well, because I don't want it to be a big filled in flag, you know?
5:39
Also, do I want the UK flag?
5:41
Oh my God, not really.
5:43
I would get a tattoo if we won this.
5:45
Do I want it on my butt, which I will say I think is up there with one of my better features?
5:49
Probably not, but it's a consideration.
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Anyway, today we're talking about taxing billionaires.
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The reason that this story is being looked at today.
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So I have been fascinated in this for a while.
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I'm sure you have too, Vic.
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So when I was on holiday, maybe a month ago, I listened to a podcast on this and it was
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teaching me all about how billionaires basically evade tax and how they country hop to avoid
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paying tax.
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You know, you hear like the Cayman Islands or Dubai or like it's a tax haven.
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And I didn't really understand the concept of this.
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And then when I was listening to this podcast, I started connecting the dots between politics
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the idea of taxes, how if you raise them, billionaires leave, etc.
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It was this big web, and it's absolutely fascinating.
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And so the fact that something's come up in the news this week that we wanted to discuss,
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I was like, perfect.
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I think this whole concept and topic is so interesting.
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Yes, there has been some news out that there is a vote coming in California this November,
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and it's all around taxing billionaires' wealth.
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and France has actually been fighting the same battle
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and it's causing a lot of controversy.
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I'm intrigued to know what you think, Soph,
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in terms of taxing billionaires.
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What I didn't realize is that so many billionaires,
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so people who have massive shares in companies,
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so whether it's like Jeff Bezos and Amazon or whatever,
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a lot of or almost all their wealth is tied up in stock
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within the business.
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And so if you're not being paid a salary per se or you're not pulling out money, then you're not paying a huge amount of tax.
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So I didn't realize that a lot of them, when they're evading tax or not paying taxes, because they're not technically paying themselves.
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I guess the companies pay tax.
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So let's take Elon Musk, for example.
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Like Tesla, SpaceX, when they make profit.
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SpaceX doesn't make a profit yet.
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But when they make a profit, they pay tax.
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but also like he is a trillionaire on paper you know if he starts selling that stock then the
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the overall wealth of his decreases because he can't go and sell that all at once and liquefy
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his assets and then become a trillionaire on paper because as he starts doing that we all know
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if your founder if the founder starts selling shares it's like big red flags then everyone
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else starts selling and then your wealth you know starts spiraling into much smaller amount anyway
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What I'm trying to say is that he will get taxed a capital gain when he sells that stock.
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The company gets taxed in terms of the company that he owns.
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So therefore, the dividends that he gets from that stock are also taxed.
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So there are different ways that they are, quote unquote, taxed, but it's just not like
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an income tax.
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So the vote that's happening in California is a blanket kind of 5% tax on billionaires
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wealth so it's projected to raise around 100 billion over five years and as i mentioned france
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it's you know been debating a two percent tax so a lot like if you think of lvmh you know louis
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vuitton moe hennessy that's one of the biggest companies he called it in france and they're
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thinking of putting a two percent wealth tax on on billionaires which means you know the founder of
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of LVMH.
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But I don't know, like part of me is like the number of jobs that Tesla, Amazon,
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Microsoft, like all these incredible companies, LVMH have created, the amount of tax those
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companies, I'm not talking individuals, those companies pay in those countries that they're
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headquartered.
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And that's why a lot of countries and governments, you know, when Amazon's rolling
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out a new or looking for a new place to put its head office, they are scrambling to get
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that company to come to whether it be Seattle, for example, or whatever it is, Texas and
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whatever state.
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The number of states that go, okay, cool, we'll lower the tax threshold or whatever
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to get those companies in to provide jobs, to boost productivity.
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It's such a roundabout thing.
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I just think you can't blanket tax people.
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Otherwise, you're stifling creativity.
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You're stifling innovation.
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You're stifling people taking risks to create these incredible businesses, which create
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jobs, which create technological innovation, which create growth.
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It's a hard one, though.
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I think it's interesting when you look at the US.
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The US is a notoriously supportive country when it comes to innovation, when it comes
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to startups.
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But they also do have trailing taxes for billionaires.
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So if someone leaves the U.S., they have to pay tax for a period of time if they've left.
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And I think what's really interesting to think about is while I fully agree with you in terms of the business, I mean, the business has to pay tax.
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It would be completely absurd if they didn't.
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But why should Elon Musk proportionately pay less than me in tax just because his business pays lots of tax?
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because I have to pay income tax on my salary.
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And a lot of those businesses,
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the whole point here is that,
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yes, they pay business tax,
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but if they're not taking an amount out of the business
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and they're not being taxed on that,
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I think what would be a really clever way to do it
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is there's almost like a minimum amount
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that billionaires have to pay themselves in income
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so that they can be taxed on that.
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You know, like there should be,
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whether it's a quarter of a million, whatever,
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some money that's being taken from them personally
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to pay taxes because just because they've created all these jobs, they've also created a huge amount
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of wealth for themselves.
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Of course, they have to pay tax on the gains they make or if they sell
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their stocks.
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I think it's so unfair that the everyday person has to pay a huge amount on tax
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on their salary.
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And yet someone that has more money than most people in the world is able to
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avoid that.
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But you're saying money, but then you're saying they're not paying themselves.
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That's what I mean.
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I think that there needs to be a minimum amount that they pay themselves out
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the business because that's kind of the whole thing is they don't do that, which is how they
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don't pay tax on their income.
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So I think there needs to be a minimum.
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I think we're getting into
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pretty controversial territory.
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I know.
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And I think it's very good content.
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I love that we have
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a different opinion on this.
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Like I watched an interview with the CEO, sorry, the founder of
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Rocket Lab and Rocket Lab's share price has gone absolutely crazy.
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It's a company similar to SpaceX,
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creates rockets.
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It's just done fantastically well.
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And the CEO came out and goes, I don't
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pay myself a salary because I have enough kind of drive, upside, whatever you want to call it,
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in terms of my percentage shareholding.
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So when the company does well, I do well in terms of my
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stock.
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I don't need to pay myself whatever, 100 grand, 200 grand.
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That can go towards hiring
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another few people or paying staff or reinvesting in the business to grow further.
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So therefore,
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I can, you know, my wealth can be bigger and the business can grow.
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And I was like,
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shit I was like good on you I was like you're forsaking you are so confident in the success
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of your business you know you you want to invest absolutely everything you can because you believe
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that there is a better return on your investment for investing in in your own business than taking
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your money and going and spending it that you are going that you are willing to forsake your salary
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I was like I want to invest in your business because you're putting absolutely everything
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on the table essentially in terms of backing yourself but you can't tell me it's not because
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they know 50% of it is going to go to tax.
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But I don't think it is a tax thing at all.
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I think if
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he was going to pay himself $200, I think it's more they genuinely would rather have more ownership
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in a business that they can influence and eventually spit out dividends from that they
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could live off.
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I don't know.
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I would do that with the curve if I didn't need a salary to live off.
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I need a salary to live off.
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But if I genuinely backed myself and was like, this thing could be incredible and let's put my salary to use to further grow, to further reach more women and therefore, you know, grow the value of our business and our shareholding, I 100% would.
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But I just think what it comes down to is that tax is essentially money that fuels, I guess, the well-being or the development of a country.
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And so like the tax and the whole point of it is that it creates, you know, health benefits for people who can't afford it.
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It's creating new roads.
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It's putting money into growing the country.
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And I think if that's not being taken from people who are actively living in the society and benefiting from those things, and you and I are paying all of this money towards tax to go and pay for that, I just think it's unfair.
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I think if we're paying 40% tax, why should someone that has billions of dollars not be doing that?
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Because the amount for them that that could go into then help everyone else collectively is quite significant.
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I think we're getting confused with this is a wealth tax on their assets, not their income.
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It's like another capital gains tax, I guess.
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But I think both things are an issue right now.
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Like both things are an issue.
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The idea of taxing assets is one thing.
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But the fact that most people who have the most money in the world don't pay normal tax on income is also so problematic.
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Yeah, and I mean, I guess we've seen this essentially happen in the UK and people just up and left.
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And then you're missing out on so much more.
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When people up and leave your country, that's billions of dollars of tax that you can now not get because you wanted to tax them more.
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There's a fine tipping point between taxing them too much that they leave or taxing a
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low amount and you get an influx and that actually works out to be way better.
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If you had 100 billionaires paying 10% versus one billionaire paying 50%, that's way better.
16:03
I think you just have to up corporate tax.
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These companies are spitting out, these tech companies are spitting out billions of dollars
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of profit.
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the corporate tax rate should be increased in my opinion.
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I think it would be really interesting to look at the percentage of men versus women
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in terms of billionaires and who this whole conversation is massively going to be impacting
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because we talk a lot about how imbalanced the men that are running companies on the S&P 500,
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for example, are.
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And it's probably worth noting there's only 14% of the world's
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billionaires that are women so there's there's a there's a disproportionate amount of men that
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are impacted if this tax is risen yeah i guess my my the reason i wanted to bring it up and it's not
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to make it super gendered but i do wonder if the reason there's so much resistance to this
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is that gender split i feel like we talk a lot about the philanthropic mentality women have when
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they have wealth comparatively to when it's with men that have money.
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I feel like the reason that
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this debate keeps coming up and everyone is so resistant to it is potentially because it's
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essentially 80%, 85% men's wealth that this will be impacting.
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Yes.
17:22
Yeah.
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And I think where women
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do show up on the list in that 14%, you know, a lot of that is money they've inherited compared
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to the majority of men which have been self-made and that's a whole kind of intergenerational
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wealth conversation that again also countries are trying to tax particularly in the UK you know
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increasing the inheritance tax all of that because there is this whole wealth transfer which was
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spoken about happening so yeah I think we are in a world where there has been massive rises in
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wealth creation and like i mentioned we've got our first trillionaire we've never ever had
18:07
a single person on earth that has had that much wealth so it's like how do we equalize that a bit
18:13
more i mean i'd be really interested to look at the this in more detail but the flow on effects
18:18
particularly politically is actually so much more intense than i realized initially oh totally
18:24
That's why all the top tech founders are in bed with Trump, because they know the last thing they want is a tax being introduced that they have to pay 5% tax on their overall net worth.
18:36
But also, we're talking about if you've got $10 billion and you have to pay an extra few percent in terms of a wealth tax or a net worth tax, it's probably like half a billion.
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It's not really moving the needle.
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Half a billion.
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imagine what you could do with that money in terms of if that was then being put into
18:58
fueling an economy or helping people and I know that it's not a huge amount of money but
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if if you know most majority of the world's wealth is with like 10 percent of people
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I just feel like it's super unfair for so much tax to be taken from the individual when really
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we're not looking at that top percentage of people with money and how more of that can be distributed
19:22
When you say so much tax, I think you're not talking about dollar values, you're talking about percentage.
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Because obviously, if I'm paying 50% of my salary in tax, that's far less than a billionaire is paying in dollar values.
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I don't think the way about it is to tax billionaires more.
19:43
It's more of a systemic issue in terms of how and why have we let corporations and companies get so big that there is founders with such large net worth.
19:56
That's the issue.
19:58
I would love to hear from anyone that's listening to this that has an opinion on it because I think that there's so many different ways that you can think about this conversation.
20:07
if you're listening and thinking oh I really I'd love to share my opinion on this whether it's
20:11
through the hotline we can link it in the podcast show notes or honestly leave it leave a comment
20:15
where you're listening because it's so interesting for other people to read and interact I've loved
20:19
seeing a lot of communication like happening between listeners on different platforms so
20:25
if you're listening to this and you have thoughts on it or questions can you please comment because
20:29
I'd love to dive into this more another time can I just say yes of course I just think it's very
20:35
easy to blame billionaires for the situations that we're in and I just I think we are trying
20:44
to find a solution having the ambulance at the bottom of the cliff kind of thing almost like an
20:49
after the fact and I think we need to have a conversation of the before the fact having the
20:55
ambulance at the top of the hill how do we how do we prevent creating such concentrated wealth in
21:02
this world.
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What do you mean by that?
21:04
And what would that look like if we were having the ambulance
21:06
at the top of the hill?
21:07
It means you're not going, okay, these people have made so much money.
21:11
Now we tax them.
21:12
It's like, okay, how do we make sure that that is more evenly distributed amongst,
21:19
you know, instead of having the Googles of the world or the Teslas or SpaceX's of the world,
21:25
How do we more evenly create, how do we more evenly distribute that wealth to begin with?
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How do we tax that wealth to begin with before it gets to that point?
21:38
But what would that even look like?
21:39
Would that mean more corporate tax as they're getting bigger and bigger?
21:42
Or like, I don't even know what that means.
21:45
I mean, I don't know, but it would be more corporate tax.
21:47
It would be, okay, once a company's over a certain market cap, then like maybe there's
21:51
certain things that come into place.
21:53
Maybe it is being philanthropic, like a percentage of corporate profits have to go to charities in order to get, I don't know, to be public.
22:05
I don't know.
22:06
There's so many more creative things that we could think of than taxing billionaires, I think.
22:12
But it seems like a very easy way to get everyone on board because there is a handful of few billionaires and there is billions of people that could easily jump on board with this and be like, yeah, you should pay more.
22:26
It just seems like a bit of a cop-out in my opinion.
22:29
Okay.
22:29
Interesting, interesting.
22:30
Speaking of philanthropic and people with lots of money,
22:34
we're going to be speaking about Taylor Swift's and Travis Kelsey's wedding,
22:38
which cost apparently upwards of $2 million,
22:40
but they also donated like $26 million to charity,
22:43
as well as Dua Lipa and Callum Turner's wedding.
22:45
So we're going to look at the finances as well as other fun elements of that.
22:50
But first, we've just got a quick word from today's sponsor.
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23:38
I'm so excited to talk about this, Vic.
23:41
I have been, I would say, stalking Taylor Swift, Travis Kelsey, the whole, when the wedding, when the news came out,
23:48
I was on a little tiny dinghy in the middle of kind of Cornwall on the ocean and I screamed and I said, oh, my God, the royal wedding.
23:57
And I was like looking through being like Adam Sandler.
24:00
Oh, my God.
24:00
He officiated it.
24:01
What's going on?
24:02
Anyway, I was on this dinghy with all these randoms and I started out loud being like, oh, my God.
24:08
And this happened.
24:09
Blake Lively not invited.
24:10
Like all these people that clearly just did not give a flying fart about the wedding.
24:16
But I felt the same about the Dua Lipa, Callum Turner.
24:19
It feels like we've had two of the most iconic weddings, really.
24:25
I was going to say in our friendship group, in our wide friendship group.
24:28
Callum Turner, my gym buddy.
24:30
Dua Lipa and Callum Turner's photos were something else.
24:36
Dua Lipa's wedding was a bit more my vibe, I reckon, than Taylor Swift.
24:40
Yeah, me too.
24:41
I don't think I'd want to be inviting people I'd spoken to twice to my wedding.
24:45
Like, how do you know a thousand people, Taylor?
24:47
Also, how do you get around that many people and say hi?
24:50
No, you don't.
24:51
That's kind of the whole point.
24:52
You probably just don't talk to anyone.
24:54
Well, anyway, they spent up to, rumored this is, up to $20 million on their wedding.
25:02
Is that a lot?
25:03
I don't think it's a lot.
25:04
$20 million is 1% of her wealth.
25:08
I'm trying to think what the equivalent would be for me.
25:10
What's 1% of your net wealth?
25:13
It's probably like me spending $100 on my wedding.
25:16
It'd be like me having a $40,000 wedding.
25:19
That's not a lot.
25:20
That's actually really, like, comparatively, not to sound bratty, but, like, we're about to release a wedding episode.
25:26
And the average that even our community spent on a wedding was not a lot.
25:30
But anyway, she hired out the Madison Square Gardens, which the reason was it is apparently the only place that you can, like, lock down and have full security, airspace, everything.
25:43
When I first heard it was going to be there, I was like, ugh.
25:45
So what even is it?
25:46
What is it?
25:47
Because it just, to me, sounds like Times Square.
25:49
It's like Wembley.
25:50
It's like Spark Arena.
25:52
It was one of the most extensive private ceremonies in history.
25:57
I mean, she is worth, yeah, over $2 billion.
25:59
So $20 million is not that much.
26:01
But also, Travis Kelsey is only worth $70 to $90 million.
26:06
She has 25 times more wealth than him.
26:08
Isn't that the coolest thing ever?
26:10
And here I am thinking like, oh, I wonder how he handles that.
26:13
And I'm like, no, actually, go her.
26:16
God, that's cool.
26:17
Imagine having that much more money than your partner.
26:20
I don't know how many couples there are where it's that way around.
26:25
I don't think I'd like it whatever way around.
26:27
Neither.
26:27
Actually, I agree.
26:28
The imbalance is quite extreme.
26:30
Yeah.
26:31
They'd be like, let's helicopter here.
26:32
I'd be like, no, no, we'll just get the bus.
26:34
Thank you.
26:34
It's like me and you in our Greek holiday.
26:37
fit wanting the audi and me wanting the like about to die in this tiny little sort of fridge on
26:42
wheels it's really weird to have such a big wealth disparity with friends let alone your partner and
26:50
i'd love to know did you have you looked at their prenup it's not public but again rumors are that
26:58
it is one of the most elaborate prenup prenuptial agreements which makes sense right it's apparently
27:03
It's over 40 pages, but apparently it was overseen by Taylor Swift's father, which is quite nice.
27:09
He used to be a financial advisor, actually.
27:11
Some stats of what she spent money on at the wedding, what that $20 million went to,
27:17
was the venue alone was up to about $2 million, apparently, for three days.
27:24
And Madison Square Gardens gave her no discount.
27:26
She paid the full commercial rate, which I kind of like.
27:29
I'm like, if you can afford it, then...
27:30
Because it is kind of annoying when people have money.
27:32
They then don't have to pay for stuff.
27:35
It's crazy when people end up having money, they just get everything for free.
27:38
It's like, come on.
27:39
The amount of shit Kim Kardashian gets for free.
27:41
Security was about $5 million.
27:44
Flowers, catering, we can go through the whole list.
27:46
But the key thing is that in order to shut down streets and everything in New York,
27:52
around Madison Square Garden, they had to have a lot of police.
27:54
What is it?
27:55
The New York Police Department.
27:57
And the NYPD is government funded.
28:00
so this is why she donated 26 million to the city of new york was because of the disruption but also
28:07
because she was like i don't want taxpayers paying for all these you know government funded services
28:13
for my wedding you know whereas in venice with jeff bezos you know that's why the city was so
28:19
up in arms a because jeff bezos but b there was no there was no payment to venice but also
28:26
everyone loves Taylor Swift like there was no people in the streets of New York being like
28:32
you know everyone was like oh my god I just want to see her I just want to see her I just want to
28:36
like and oh my god I saw the the cutest thing all the leftover catering they came out and gave to
28:42
people in the streets so they have people have eaten Taylor Swift's wedding food and they're
28:47
just like frothing I'm so surprised they can do that for like health and safety reasons you can't
28:52
even buy a bloody sandwich like after 5 p.m because they're like you'll get salmonella and
28:57
you'll get sued and yeah yeah yeah if we look at the average price of american wedding though
29:02
that's about 30 000 us dollars so travis and taylor's wedding cost around 300 700 times that
29:13
and even just a permit a parking permit to sorry a street permit to shut down the street
29:21
One street outside Madison Square Garden is about $60,000 US.
29:25
So people are saying like the parking permits cost more than the average US wedding, which is quite wild.
29:33
Can we just do a very quick tick off with some of the key things she spent money on, how much they were?
29:40
Catering was supposedly $600 US a head.
29:44
so that, you know, if you're thinking a thousand guests,
29:47
that's like $600,000, not drinks.
29:52
And her wedding dress was supposedly six figures.
29:56
It was Christian Dior.
29:57
So, you know, didn't expect anything less.
29:59
I think the best thing about this story is for generations,
30:05
there have been scary prenups that essentially protect a rich husband,
30:09
you know, and that is why there's so many.
30:12
it's really been an icky weird evolution talking about prenups but you know we're finally as we
30:18
spoke about last week on the podcast the idea that there's almost 50% now of American couples
30:25
getting prenups that's often led by women this is two very public examples Taylor Swift Dua Lipa
30:33
where both of those women massively outweigh in terms of value or what their net worth is
30:40
their husband and so the fact that yeah they both have very intricate public in a way prenups
30:50
is really resetting that I guess just that conversation in general and yeah these prenups
30:56
are they're not superseding or making it appear like there's any less romance in these couples
31:03
or in these weddings it's just that they're in a business relationship now and so they're being
31:07
adult about the fact that those conversations have to come as a part of that.
31:10
Hey, and Taylor Swift might have to pay more tax soon.
31:14
Do we want to tax her?
31:15
No, no, we can leave her alone.
31:16
She's fine.
31:17
She's already paid $26 million.
31:19
But I mean, that's a good example.
31:21
If someone is, you know, you're saying before you were like,
31:23
oh, yeah, everyone just loves to hate on billionaires.
31:26
They wouldn't if they were
31:27
donating lots of money.
31:28
No one hates on Taylor Swift because she does do things like that.
31:32
I don't want to bring the gender card into this, but I just think what women choose to do with
31:37
their money is, from the examples that I've seen, very different to what male billionaires do with
31:43
their money.
31:44
We take Jeff Bezos' ex-wife as well.
31:47
It's one of the largest philanthropic donations
31:50
ever made.
31:51
There are beautiful billionaires out there that do contribute a lot of money.
31:55
Now, you should have referred to her as a beautiful billionaire.
31:57
Beautiful billionaire.
31:58
Oh, Sophie Hall, right.
31:59
She's a beautiful billionaire.
32:00
Yeah.
32:01
Anyway, I think with the prenup thing, if you don't sign a prenup, you're not avoiding the topic.
32:07
You're just defaulting to what exists in your country.
32:12
And so let's all be Taylor Swift and pretend.
32:14
Pretend we have billions of dollars of wealth to protect.
32:18
Because you might one day.
32:19
You never know.
32:19
Exactly.
32:20
And make sure that we don't sign a contract without negotiating it.
32:25
Love it, Vic.
32:25
Very good.
32:26
Stunning research.
32:27
Now, before we wrap up today's episode, I would just like to say we've got an amazing interview coming out on Friday.
32:33
It's our Raising the Curve episode with Kiera McMahon, who is a London-based financial influencer.
32:42
This is the girl that I met.
32:44
Yes, she's amazing.
32:45
She's so cool.
32:46
I was at an event.
32:47
You're so humble.
32:48
Vic was speaking at event.
32:50
Yeah, I was speaking at event.
32:51
I actually felt quite nervous because this girl was like, oh, I actually have a financial education platform and I post content.
32:58
And I was like, oh, amazing.
33:00
And then she showed me and I was like, this is actually really great.
33:03
And, you know, she had like quite a few followers.
33:05
And I was like, and I'm about to stand up and educate you on finance.
33:10
And I was like, oh, but no, it was, she was lovely.
33:12
Do you know what?
33:13
You'll be pleased to know that she actually sported a very similar Wimbledon outfit to you.
33:18
Similar hats was inspired by your outfit.
33:20
So, you know.
33:21
Shit, yeah.
33:22
Teaching finance and fashion.
33:24
I would say she reminds me a little bit of you, actually.
33:26
She's kind of like a UK equivalent.
33:28
Anyway, we have her on the podcast on Friday and she's so lovely and we had such a great
33:33
conversation.
33:34
There's so much we learned from it.
33:35
So what I would just say, actually, if you're listening to this podcast, because we've had
33:38
a bit of a change of like calendar, you know, we have our Curve Weekly on a Monday, Curve
33:43
Weekly on a Wednesday and our Raising the Curve on a Friday.
33:46
If you don't already follow the podcast, wherever you are watching, listening, because then you'll just be notified whenever we have an episode come out.
33:53
We have some incredible voices coming up on the Curve podcast.
33:58
They're going to be taking over me for a few weeks and because we're working on something pretty exciting.
34:03
So, I mean, I hope they're great.
34:06
I hope they're not too great, but I'm sure they'll be amazing.
34:08
They're really great.
34:09
You should be incredibly nervous.
34:12
No, no, we do.
34:13
we've talked about this for months and months anyone that's in the club or not we're talking
34:18
about but basically um we've been working on something for nearly nine months now and it's
34:22
just getting quite intense so vick is going to be focusing on that for the next few weeks and we
34:27
have some amazing voices filling in for her so but it will all make sense very soon god we're so
34:33
annoying that the constant tease i'd hate us i i i already hate me me too i'm sorry but it is
34:41
actually worth it for sure.
34:43
It's like our version of the royal wedding really, isn't it?
34:45
Anyway,
34:46
have a great week, everyone.
34:47
Thank you so much for listening.
34:49
And as always, send any feedback,
34:50
thoughts, rate this podcast.
34:52
And yes, we will see you.
34:54
Oh, we'll see you on Friday.
34:55
Bye.
34:56
Bye.
34:56
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34:58
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35:07
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35:23
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35:35
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36:00
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36:01
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