Number 1: How did this dropout who worked at Bear Stearns for ten minutes amass close to a billion dollar fortune? After tax.
Leon Black paid him $150,000,000, supposedly for tax advice. Think about how much you'd have to save on taxes to pay someone $150mm for the advice. It's simply not credible. This guy was the head of a giant PE firm called Apollo. He had access to the best tax attorneys and accountants in the world.