Legendary hedge fund manager John Paulson, who made an estimated $15 billion for investors by shorting the real estate market before its 2008 crash, is starting a fund to help investors reduce their tax bill.
Tax reduction strategies have been a focus for Paulson of late, and he recently considered a move to Puerto Rico to lower his personal tax liability.
Bloomberg reports Paulson’s firm “invited prospective clients to an April 24 event at Paulson & Co.’s New York offices, where the 57-year-old founder will talk about the Paulson Partners Premium LP Fund, described as a risk-arbitrage fund for investors looking to mitigate income taxes.”
The 75-minute presentation will include a 15-minute discussion of tax-deferred or tax-free investing in the fund, according to the news service, which cites a copy of the invitation.
But in an era of increasing debate over income inequality, Occupy Wall Street and higher taxes for the wealthy, some are critical of Paulson’s latest move.