Hedge fund star John Paulson set to quit the US
Tuesday 12 March 2013
Billionaire hedge fund manager John Paulson is considering quitting the US for tax reasons, it emerged yesterday.
Mr Paulson, who is best known for betting against the US subprime market in the lead-up to the financial crisis, is believed to be exploring a move to Puerto Rico.
According to reports, the move would help him avoid taxes linked to the £9.5bn he has invested in his own hedge funds.
Puerto Rico is a four-hour flight from Mr Paulson's native New York, where the marginal tax rate for affluent residents can exceed 50 per cent on ordinary income.
A spokesman for Paulson & Co declined to comment on Mr Paulson's personal plans.
Any move would mirror a trend set by hedge fund managers in Europe who have moved to places like Switzerland to avoid onerous taxes.
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 4 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 5 Apple and Google users being spied on for a decade because of 'Freak' security flaw
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
Japanese island overrun with cats after population explodes
London property boom built on dirty money
Becky Watts: Stepbrother and his girlfriend named locally as two arrested on suspicion of murder
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...
£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...