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.
I’m hoping I too can reduce my income tax by donating all my earnings to myself before receiving it.