The Murdoch family feud taking place in an obscure Nevada court highlights the state's surging popularity as a global center of family trusts and a friendly home to the world's biggest fortunes.
The Western state's fast-growing industry of trust and estate attorneys, trust companies and facilitators keeps a deliberately low profile.
Yet experts estimate the state likely has hundreds of billions of dollars in trust assets locked away in nondescript office buildings or trust companies, offering little to no visibility to the outside world.
In the race among states to attract the hundreds of billions of dollar in new trust assets, Nevada has a comfortable lead.
Perhaps its most powerful advantage, and the one with direct bearing on the Murdoch case, is trust flexibility.
Persons:
Rupert Murdoch, Lachlan Murdoch, Drew Angerer, Robert Frank, Murdoch, Steven Oshins, Oshins, Thomas Piketty, Emmanuel Saez, Gabriel Zucman
Organizations:
News Corp, Fox News, Century Fox, Allen & Company Sun Valley Conference, Getty, IRS, Division
Locations:
Sun Valley , Idaho, Nevada, South Dakota, Tennessee , Delaware, U.S