Another Billionaire Dies, Estate Tax-Free

John Kluge died at age 96, making 95-year-old David Rockefeller the new oldest member of Forbes 400. Kluge was the richest man in America in 1989 but was surpassed by Bill Gates three years later. Kluge was worth $7 billion at the time of his death.

See Clare O’Connor, Billionaire John Kluge Dies at 96, Forbes Blogs, Sept. 9, 2010. See also Hani Sarji, Another Billionaire Dies in Year with no Federal Estate Tax: John Kluge Passed Away at 96, Future of the Federal Estate Tax Blog, Sept. 16, 2010.

Special thanks to Hani Sarji (LL.M in Tax candidate at New York Law School) for bringing this to my attention.