NYC Billionaire Paul Singer Will Move Hedge Fund to South Florida

A well-known New York City billionaire has announced he is moving his global hedge fund to West Palm Beach, Florida, according to The New York Times.

Paul E. Singer is pulling his Elliott Management and its $41 billion in assets from the city out of fear of how the pandemic will affect Manhattan office real estate.

But Singer will stay in New York, and the hedge fund will still have a presence in the city.

”The main driver was to provide flexibility to people who want to have more say in where they live and work,” according to an unnamed person familiar with Singer’s plan.

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{Matzav.com}