Puerto Rico

John Paulson is sticking to his story that he won’t be moving to the tax-friendly shores of the Singapore of the Caribbean. On the other hand, he’s just bought some pretty nice Class A space from Robert Benmosche to go along with all of those miles of beachfront on which he could conceivably live. Read more »

If you’re up to speed on the latest trends in Where Rich U.S. Citizens Are Talking About Moving To Beat What They Believe Is An Oppressive Tax Code, you know that Puerto Rico is high on the list. Working in its favor is the fact that it’s a relatively quick trip (versus, say, Singapore), the weather’s pretty good, and there are some decent private schools for Junior and Buffy to attend. Sure, the crime is something to think about, but probably the biggest impediment? The thing that’s gotta be figured out stat if the territory is going to make John Paulson some serious money on his bet that millionaires are going to start moving their en masse? The god damn line at Quiznos. Read more »

Make no mistake: John Paulson still loves Puerto Rico. And even if he can’t abandon the city of his birth for fun-in-the-sun money management on his beach 25 miles east of the island’s capital, he can certainly make money off the lucky (not so lucky?) ones who do, the posh pioneers who will either turn deeply indebted Puerto Rico into a major world financial center or introduce the death penalty for stealing bread. To which end he will continue to buy beaches, and build upon them residences of such luxury as to make the island’s current chic districts look like the hovels and shantytowns that they are. Read more »

Sure, it’s happy that he likes the place and keeps throwing money at it. But it turns out that JP’s not the only hedge fund manager with a taste for the tropical island. Read more »

John Paulson Bought A Beach

He’s still not moving to Puerto Rico to save a few hundred million on taxes. But if he did, we’re pretty sure a certain luxury seaside compound has a good chance of landing Casa Paulson. Read more »

Earlier this month, Bloomberg reported that John Paulson was considering making Puerto Rico his home for a little more than half the year, having been intrigued by the idea of working from the beach and not paying capital gains taxes. For its part, PR was pretty excited about the prospect of the hedge fund manager calling the island home on tax forms, as his presence would create a much needed you scratch our back we’ll scratch yours situation for the local economy. And while a spokesperson for Paulson has categorically crushed the dreams of the Commonwealth, apparently everyone has gotten over it pretty quickly and would like to make it clear that anyone with money to spend is welcome, nay, encouraged to come on down. Millionaires would be good, billionaires are better, but beggars/choosers/etc. Read more »

Despite reports to the contrary. Nueva York it is. Read more »