Billionaire Paulson eyes move to tax haven Puerto Rico

clock

Billionaire Wall Street hedge fund titan John Paulson is reportedly planning to move to Caribbean island Puerto Rico to cut his tax bill.

Paulson, who rose to prominence betting on the collapse of the US housing market, currently lives in New York, but has been looking at properties in Puerto Rico, Bloomberg reports. The country is now particularly attractive to the very wealthy, with a new law that leaves any capital gains accrued by residents free from tax. Paulson has almost $10bn (£6.7bn) invested in his own funds, and as such would be able to escape any capital gains tax on future gains the fund makes. The possibility of one of the world's best-known hedge fund managers moving to Puerto Rico underlines how the d...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read