These programs are absolute cash cows for universities. One of the primary reasons that tuition has considerably outpaced inflation is government guaranteed loans. Two of the primary 'cost-disease' areas - healthcare and education - are some of the most regulated areas of our lives.
1.7m shares of Paypal at .001 is worth 5B at the current share price of 295.
Obviously debatable whether you can mark shares of your own company / PE firm sponsor equity / etc at near zero in a tax sheltered vehicle. But if Thiel held shares in a personal account and borrowed against them he wouldn't have owed tax either, as unrealized capital gains are not taxed.
Buffett, Musk, Bloomberg, etc. all have the vast majority of their wealth in businesses they founded, and have subsequently paid de minimuis taxes relative to their net worth.
All have arguably made significant contributions to society and world at large, magnitudes higher than their net worth and taxes paid.
https://www.aei.org/carpe-diem/chart-of-the-day-or-century-6...