Pipeline Billionaires Cling to Partnership Model Others Shun
- Billionaires behind partnerships shielded from big tax bills
- Elliott urges Marathon to scrap MLP model for pipeline unit
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Pipeline owners that ditched a partnership structure in favor of becoming corporations are performing better than their tax-shielded peers. But that isn’t convincing everyone to convert.
Even though the number of publicly traded master-limited partnerships dwindled by more than one-third in the past four years as enthusiasm for the model waned, a few stalwarts are keeping the structure, saying any possible benefits are overshadowed by the tax hit investors would incur.