So much for a new life in a tropical, low-tax paradise.
John A. Paulson, the billionaire hedge fund manager, has no plans to move to Puerto Rico, his firm said in a news release on Friday. The unusual statement followed reports that the financier had looked at real estate in San Juan.
“In light of the media attention surrounding a relocation to Puerto Rico,†the announcement said, Mr. Paulson “has no plans to move to Puerto Rico.â€
“While Mr. Paulson has considered real estate investments and has vacationed on the Island, he has no plans to establish a permanent residence there,†the release said.
A residence in the United States territory of Puerto Rico might have offered some tax relief to Mr. Paulson, Bloomberg News reported earlier this week.
Other wealthy individuals in the United States and Europe, including the actor Gerard Depardieu, have relocated recently in the face of higher taxes, the report noted.
But Mr. Paulson, at least for now, won’t be among them.
