(Bloomberg) — Florida is luring its biggest name yet in hedge funds: Paul Singer’s Elliott Management Corp.
The $41 billion firm plans to move its headquarters to West Palm Beach from Midtown Manhattan, according to people familiar with the matter, joining a growing list of funds that have relocated to the Sunshine State.
With no individual income taxes, estate taxes or capital gains taxes, Florida has become a hot destination for hedge funds in recent years. The Covid-19 pandemic has accelerated that shift away from New York, the initial epicenter of the U.S. outbreak.
Singer’s co-chief investment officer and expected successor, Jon Pollock, owns a home near West Palm Beach and has been living there during the pandemic, said the people, who asked not to be identified because the information is private. The now-permanent move by Pollock, as well as several other senior employees, played a big role in the decision to shift the headquarters, said one of the people. more here
Stay in NY. I will buy you dinner
Looks like Cumhole & Debozo will be raising state & local taxes again, which will result in even more businesses & people leaving that are financially able to move.
That’s some funny shit right there. These Marxist shitholes are not going to be able to recover, capital flight is going to leave even less voters with common sense and it is going to be a death spiral before many more election cycles
As long as they can only keep voting in New York, it’s a good idea.
While I’m always glad to see New York politicians fail, I just can’t get onboard with anyone who makes massive profits playing money games based on other people’s misfortune.
Tennessee is getting Scotty Kilmer so we’re not sweating it either.