John Paulson Won't Work From The Beach, Will Pay Your God Damn Capital Gains Taxes

Despite reports to the contrary. Nueva York it is.
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Despite reports to the contrary. Nueva York it is.

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.

[Bloomberg, earlier]

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Puerto Rico Not Picky, Will Take Felipe, Esteban, Carlos, Or Guillermo If Juan Paulson Won't Make The Move

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 having to pay 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.