Gregory Baszucki, brother of Roblox’s founder and a longtime board member, reportedly holds at least $68 million in retirement accounts after buying roughly two million Roblox shares in his Roth IRA before the company went public. He sold about a third of his stake after the debut, avoiding a federal capital-gains tax of as much as 20% on the profit. The Wall Street Journal reports that more than 1,000 people had IRA balances of at least $25 million in 2024, more than double the number in 2019, while about 11,600 people held $10 million or more, up from just over 3,600. Senator Ron Wyden and Representative Richard Neal introduced a bill on July 22 that would require annual withdrawals from accounts over $10 million, aiming to close what Wyden called an egregious loophole that lets the ultrawealthy dodge taxes on insider deals.
Roblox CorpProposed bill would require withdrawals from large IRAs, potentially affecting Roblox insiders' tax-advantaged holdings.