Sure, but let’s say they spent 20m. Then their net worth would be under a billion and the next couple of years of earnings would have a lower tax rate.

Even if they never were able to make money again, 20m goes into a billion 50 times. They could overspend for 50 years without making a cent on investments.

I’m sure they’d come up with fun new accounting loopholes though so their assets didn’t appear to increase.