This is true, though deferred tax liabilities assume that you will make money, and will continue to grow. (alephblog.com)
You'll still pay capital gains tax, but you can defer your tax liability until a later date. (cryptotaxprep.com)
According to this article, he still holds a large personal stake in WR Grace (and what must be a massive personal deferred tax liability of something close to $ 100 million — he bought the stock for $ 2 in the early 2000's). (basehitinvesting.com)