The heads of past US presidents carved in stone are the symbol of South Dakota, otherwise the US state is rather boring. But behind the staid facade, billions of dollars are being managed.
(Photo: ZUMAPRESS.com)
new York South Dakota, really ?? This is what many Americans thought these days when they learned, thanks to the Pandora Papers, that the rich and powerful from all over the world have hidden their billions in the sparsely populated state in the middle of the country.
Most Americans were probably only familiar with South Dakota because of Mount Rushmore – the rock into which the heads of the four US Presidents George Washington, Thomas Jefferson, Theodore Roosevelt and Abraham Lincoln are carved.
So far, states like Delaware or Florida were known to be particularly friendly to certain holding companies. South Dakota with its almost 900,000 inhabitants and its prairie landscape, which is reminiscent of Western films, had very few on the screen.
But as the latest Pandora revelations by the International Consortium of Investigative Journalists (ICIJ) show, the state has $ 360 billion parked in well-secured trusts.
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