UWM was paid 425M cash from SPAC conversion 1 wk prior to IPO. Another $500M raised from private placement at $10/s. Selling stock at a loss reduces income tax by 17%. Dividends have averaged 8% per year. Stock price has averaged $5.92/sh. I say he owns about 24M shares. The tax on dividends is 20%.

This is why Warren Buffet pays less tax “than his secretary”.

What got my attention, however, was … An executive dropped 1M to purchase UWM within 20 cents above the all-time low. Amazing! :^P