EVsFortuneabout 2 hours ago
Billionaire's $40M Ferrari Luce Buy May Save $13M in Taxes
4 min read
Dr. Herbert Wertheim, 87, bought the first Ferrari Luce at a Sotheby's charity auction for $40 million, over 36 times its $1.1 million presale estimate. The purchase could yield a $13 million tax write-off under IRS rules, benefiting the Ferrari Foundation's education initiatives.
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