Gabe Plotkin seeds Snowball ETF with personal assets via 351 conversion

2 articles · Updated · Bloomberg · Apr 27

Plotkin, co-chairman of the Charlotte Hornets and former hedge fund manager, will provide most of the initial securities for the Snowball ETF.
The ETF, first filed for in December, will be created through a 351 conversion, allowing Plotkin to defer taxes on his contributed assets.
This move follows Plotkin’s exit from hedge fund management after the meme-stock trading saga and reflects a growing trend among wealthy investors seeking tax advantages through ETF conversions.

Will Gabe Plotkin’s 'Snowball ETF' rebuild his fortune or just attract unwanted government scrutiny?

Is the 'Snowball ETF' an innovative tool for investors or a tax loophole exclusively for the super-rich?

How do 'heartbeat trades' and 351 conversions let ETFs legally sidestep billions in taxes for the ultra-rich?

With regulators set to close the '351 Exchange' window, is it too late for the wealthy to follow Plotkin’s lead?

How might Plotkin's tax strategy for his personal fortune impact his commitment to the Charlotte Hornets?