This is how the ultra-rich do it. All their wealth is not "owned" by them but they control it.
John D. Rockefeller once stated, “Own nothing, but control everything.” Basically what he meant was ‘what you don’t own can’t be taken from you’.
At least they are following the "You will own nothing but you will be happy," mantra.
Avoid estate taxes and other taxes. Give to the foundation that you control. Out one pocket and into another with no loss to the govt and look like a philanthropist 🙄