John Paulson is turning 65 in a couple of years. Once upon a time, that was the age when people retired, moved to a sunny place and waited to die.
For most people, that’s not possible anymore. John Paulson is not most people. In spite of the many, many billions of dollars he’s lost in the last few years, he’s still got at least $6 billion, which is more than enough for him to just stop.
And Paulson is planning for retirement. He’s all set to move to Puerto Rico just as soon as he finds the right boarding school for his teenage daughters, where he’ll never have to pay another $1 billion tax bill or worry about his neighbors being mean to him about Trump (because on Puerto Rico, he owns the whole damned beach and won’t have any neighbors). And, it turns out, he’s even thinking about semi-retirement.
Paulson, 63, said he will probably make a decision over the next couple of years. He may run a hybrid business, with one part managing his money and the other running client capital with a profit-sharing arrangement with his partners, Paulson said in an interview on Mike Samuels’ “According to Sources” podcast.
His protestations to the contrary notwithstanding, Paulson’s been moving in a family-office direction for some time, although it would be more true to say that Paulson’s now-former clients have been moving him in a family-office direction. Paulson told Samuels that as much as 80% of Paulson & Co.’s $8.7 billion is his, which, admittedly, is an improvement.
But rest assured: Before becoming a Puerto Rican and foregoing his right to vote in a presidential election, Paulson’s gonna make sure he casts at least one more ballot for President Donald J. Trump.
"Aside from the messaging, I think he's accomplished a great deal and I'm supportive of him," Paulson said in an "According to Sources" podcast. "Generally, I've been pretty supportive of the policies that he's pursued and, you know, I'd be supportive of him again if he did run for president…."
"I do think we need immigration reform. I do think we need to protect our borders. We have something like 11 million illegal immigrants in the country. Seventy percent have come here across the Mexican border," he said. "I believe we are a country of immigrants and we should have immigration. But I believe it should be legal immigration, and we should have laws that determine who gets to come in. And we shouldn't have illegal immigration."
Paulson to Decide on Switching to Family Office in Two Years [Bloomberg]
Hedge fund manager John Paulson praises Trump accomplishments, says he would re-elect him [CNBC]
Billionaire John Paulson’s tip for Trump supporters living in New York: Stay calm [MarketWatch]