D flow thru shares recently issued at 2.54 They were all donated to charity by the buyers. The Charities or charity then sold them all for 2.06 per share. The buyers of the flow shares paid no capital gains tax as donated to charity . They also got a double tax deduction ie flow thru shares plus the donation to charity. Did the flow share buyers make any money -----likely they are facing a small lose however for billionaries it is an inexpensive way to donate to charity which in this case seems the main motivation. They get credit for it but it costs them a few cents on the dollar while in effect the government pays the rest through forgone taxes.