{"id":2324,"date":"2024-02-27T11:26:17","date_gmt":"2024-02-27T10:26:17","guid":{"rendered":"https:\/\/www.vickylivesports.com\/?p=2324"},"modified":"2024-02-27T11:26:17","modified_gmt":"2024-02-27T10:26:17","slug":"just-now-hedge-fund-magnate-is-moving-his-41-billion-firm-from","status":"publish","type":"post","link":"https:\/\/vickylivesports.com\/index.php\/2024\/02\/27\/just-now-hedge-fund-magnate-is-moving-his-41-billion-firm-from\/","title":{"rendered":"JUST NOW: Hedge Fund Magnate Is Moving His $41 Billion Firm From……."},"content":{"rendered":"

For more than 40 years, Paul E. Singer has helped cement New York City\u2019s reputation as a global financial capital as the founder of<\/p>\n

Elliott Management, a hedge fund with $41 billion in assets whose offices overlook Central Park.<\/p>\n

\"America's<\/p>\n

But on Wednesday, Mr. Singer, a billionaire who is one of the wealthiest people in the United States, revealed that he was moving his<\/p>\n

firm\u2019s headquarters from \u00a0to West Palm Beach, Fla.<\/p>\n

\n

The decision to leave New York was prompted by the pandemic and the uncertainty over the future of Manhattan offices, a person<\/p>\n

familiar with the move said.<\/p>\n

Mr. Singer himself, however, will remain in the Northeast, and Elliott will keep offices and some employees in New York, said the<\/p>\n

person, who was not authorized to publicly discuss the firm\u2019s plans.<\/p>\n

Elliott Management’s departure, which was first reported by Bloomberg News, follows a similar migration in recent years by other<\/p>\n

aging billionaire investors, including Carl C. Icahn, who left New York City for Florida, which offers sunny weather, beaches, and<\/p>\n

generous tax breaks, particularly for the wealthy.<\/p>\n

\"How<\/p>\n

President Trump also officially left New York late last year for Palm Beach, Fla., and proclaimed his resort, the Mar-a-Lago Club, his<\/p>\n

official residence after complaining that he had been “treated very badly” by elected authorities in the city and state.<\/p>\n

Mr. Singer’s departure might have a negative impact on the city’s efforts to emerge from a financial crisis that has left more than<\/p>\n

500,000 New Yorkers unemployed. New York City’s personal income tax revenue, which is primarily reliant on rich residents, is<\/p>\n

forecast to fall by $2 billion this fiscal year.<\/p>\n

Elliott Management first began to consider a move to Florida during the pandemic, when its about 500 workers began to work<\/p>\n

remotely, even from neighboring states, according to the individual. City boosters are concerned that the pandemic has caused<\/p>\n

irreversible changes in how people work, which may harm New York City’s economy, which is highly reliant on office jobs and<\/p>\n

commuters.<\/p>\n

“The main driver was to provide flexibility to people who want to have more say in where they live and work,” said the person familiar<\/p>\n

with the plans.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

For more than 40 years, Paul E. 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