Where the 1% Hide Hundreds of Billions of Dollars in Art | Offshore

How do the mega-wealthy get away with hoarding billions worth of art in maximum-security, tax-free vaults? Free ports are something out of a movie – like the giant set piece in Christopher Nolan’s Tenet -- but they're all too real. How did this start and why is it even allowed? How did art, meant to be appreciated, become… this? Let's find out. Welcome to Offshore. 00:00 Intro 00:42 What Are Free Ports? 02:45 What's Hiding in the Geneva Free Port 04:49 When Did Art Market Get Crazy? 06:49 How the Heist Works 08:28 Rich Guy FIGHT 10:00 Conclusion Click here to subscribe to VICE: http://bit.ly/Subscribe-to-VICE About VICE: The Definitive Guide To Enlightening Information. From every corner of the planet, our immersive, caustic, ground-breaking and often bizarre stories have changed the way people think about culture, crime, art, parties, fashion, protest, the internet and other subjects that don't even have names yet. Browse the growing library and discover corners of the world you never knew existed. Welcome to VICE. Connect with VICE: Check out our full video catalog: http://bit.ly/VICE-Videos Videos, daily editorial and more: http://vice.com More videos from the VICE network: https://www.fb.com/vicevideo Click here to get the best of VICE daily: http://bit.ly/1SquZ6v Like VICE on Facebook: http://fb.com/vice Follow VICE on Twitter: http://twitter.com/vice Follow us on Instagram: http://instagram.com/vice Follow us on TikTok: https://www.tiktok.com/@vice?lang=en The VICE YouTube Network: VICE: https://www.youtube.com/VICE MUNCHIES: https://www.youtube.com/MUNCHIES VICE News: https://www.youtube.com/VICENews VICELAND: https://www.youtube.com/VICELANDTV Vice Life: https://www.youtube.com/Broadly Noisey: https://www.youtube.com/Noisey Motherboard: https://www.youtube.com/MotherboardTV VICE Sports: https://www.youtube.com/NOC i-D: http://www.youtube.com/iDmagazine Waypoint: https://www.youtube.com/WaypointVICE