Steinbrenner’s Estate Passes Untaxed

George Michael Steinbrenner III, owner of the New York Yankees for more than 30 years, died Tuesday morning of a heart attack at age 80.

Mr. Steinbrenner landed at #341 of The Forbes 400 Richest Americans in 2009 with a net worth of $1.15 billion. Because of the estate tax repeal, his millions will escape a massive estate tax.

See #341 George Steinbrenner – The Forbes 400 Richest Americans 2009, Forbes.com, Sept. 30, 2009. See also Ronald Blum, Yankees Owner George Steinbrenner Dies at 80, Associated Press, July 13, 2010.

Special thanks to Peter Parlapiano (2011 MBA/M.S. PFP candidate, Texas Tech) for bringing this to my attention.