Anyone who likes to go hiking, biking or camping probably knows what Gore-Tex is. The breathable, waterproof fabric made W.L. Gore and Associates into a huge success. The privately-held company hit #134 in Forbes’ most recent list of America’s largest private companies, with an estimated $3 billion in annual revenue.
Founder Bill Gore passed away in 1986 and his widow, Genevieve Gore, died in 2005. The couple, way back in 1972, finalized a trust to pass most of their stock in the company onto the children, and ultimately their grandchildren. They smartly planned ahead, realizing how valuable their Gore-Tex invention could become and how much growth their stock could achieve. So they funded the trust through a holding company, early on, to minimize estate taxes.
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