John Paulson, the New York hedge- fund manager said to have
considered a move to Puerto Rico, said he won’t set up a permanent residence on
the island.
“In light of the media attention surrounding a relocation to
Puerto Rico, he has no plans to move to Puerto Rico,” Paulson & Co., John
Paulson’s hedge fund, said today in a statement. “While Mr. Paulson has
considered real estate investments and has vacationed on the island, he has no
plans to establish a permanent residence there.”
Bloomberg News reported March 11 that Paulson, a lifelong
New Yorker, had been exploring a move to Puerto Rico, where a new law would
eliminate taxes on gains from the $9.5 billion he has invested in his own hedge
funds, according to four people who have spoken to him about a possible
relocation. The 57-year- old recently looked at real estate in the exclusive
Condado neighborhood of San Juan, the people said….
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