Andrew Tate bought university.com to piss them off!

[AlicaFunk]

That was a cute one, so business is booming with such a domain and his sales of memberships to his "get rich quickly" club. I must say he's really showing off.

https://twitter.com/x/status/1762795260101501137


https://www.university.com/

 

[jayM]

Oh no!!

 

[jafo]

NGL, this is a great name. I'm⁠ surprised Oxford, Harvard, Cambridge, Stanford, Yale, etc, didn't register it decades ago.

 

[12345]

10m $ just for the domain ? I didn't know there are domains that expensive‌ but as usually he is most likely talking crap and bought it for a few‍ hundred k $
I agree with him that traditional education is often useless though

 

[Jay9]

$10m is a lot, but its completely within the realm of possibility based on sales‌ of other "high value" types of single word domain names. They do even stranger things‍ these days, such as leasing use of a domain for tens of thousands of dollars⁠ under a multi year term.

 

[Sols]

Because they have .edu domains in‍ the US, .ac.uk in the UK, and so on in many other countries. In academia,⁠ those are worth more than a generic word .com.

 

[polonieth]

It sold for $1 million in 2020. So the firm made 10x on that, nice.‌

However, what if he didn't actually buy it and is simply leasing the domain? Just‍ a thought...

 

[alley]

That may be the case indeed.

 

[ilke]

I feel that's unlikely because the domain transferred‍ registrar from Namecheap to Cloudflare last October. There would be no need for a firm⁠ leasing the domain to change the registrar.

One thing I am curious about is why⁤ the Tates have such a corporate structure. They still have US citizenships, so I guess⁣ they're liable for the US worldwide tax - no way to avoid that. They have⁢ the Delaware LLC for US customers which makes sense, but why a Polish sp. z.o.o.︀ if they are based in Romania? Polish companies have a minimum tax rate and generally︁ aren't that tax-friendly. They don't fit in the 9% - that's limited to 2M zloty︂ in turnover, so they'd still be paying 19% corporate tax and an above-average VAT. Not︃ to mention that they are obviously creating Romanian PE and I imagine they are not︄ giving anything to the Romanian tax office from the PL company revenues.

 

[diatessaron]

Mister Tate does a lot of stupid things just so he and his brother can‌ keep selling their dropshipping methods but buying a domain for 10 million USD is not‍ one of those stupid things. Youth needs experience, not the bs Tates spew out of⁠ their mindless brains.

 

[12345]

it's 2m euro for 9% cit in Poland, not zloty

 

[ilke]

You're right, but it does not affect the validity of my point. HU / TRW‍ still earns more than 2M EUR in yearly turnover from non-US customers.

 

[0xDEADBEEF]

As hinted earlier, the Tate brothers might be employing a strategy where their‍ earnings are funneled to a trusted entity/individual in a low-tax jurisdiction. This setup could essentially⁠ back their lifestyle, paying some tax while high-value transactions are executed through the entities or⁤ people they trust. This heavily relies on trust in their management, yet it's hard to⁣ imagine someone will halt such a beneficial arrangement.

Additionally, it wouldn't be surprising if their⁢ 'public' setup is designed to mislead those looking into their financial structures.