Inside Marc Andreessen & Ben Horowitz's Multi-Family Office (Part II)

About this episode

Michel Del Buono discusses pre-liquidity event planning and wealth optimization strategies in the context of upcoming IPOs and secondary market activities.

Michel Del Buono, Chief Investment Officer of a16z Perennial (Andreessen Horowitz's multi-family office), returns to Sourcery for a deep dive into pre-liquidity event planning. Yes. You can earn a billion dollars. With the SpaceX IPO on the horizon and massive secondary activity around Anthropic, OpenAI, Stripe, and Anduril, Michel breaks down the three pillars of wealth optimization: trust & estate structuring, tax-advantaged investment strategies, and philanthropy. In this conversation, Michel and Molly cover QSBS stacking, the difference between L1, L2, and L3 SPV structures, the hidden risks in today's secondary market, the BDC liquidity gate situation, tax loss harvesting vs. trust strategies, real assets and depreciation, AI's impact on private equity, and why most founders show up to their liquidity event unprepared. Whether you're a founder approaching IPO, an early employee considering a tender, or just want to understand how the ultra-wealthy actually structure their balance sheets — this episode is essential listening. We cover: Pre-liquidity event planning QSBS stacking strategies Secondary market SPV risks Trust & estate structuring BDC liquidity gates Tax…

People in this episode

Host: Molly O’Shea

Guest: Michel Del Buono

Topics covered

• pre-liquidity event planning
• wealth optimization
• trust & estate structuring
• tax-advantaged investment strategies
• philanthropy
• QSBS stacking
• secondary market risks

Keywords

• pre-liquidity event
• QSBS stacking
• SPV structures
• tax loss harvesting
• real assets
• depreciation
• private equity
• liquidity event

Sponsors

Brex

Mentioned in this episode

Organizations: Andreessen Horowitz, SpaceX, Anthropic, OpenAI, Stripe, Anduril

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