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February 24, 2022 at 04:40 PM
Jeffrey Gundlach’s money-management arm, DoubleLine Capital LP, has moved its “principal office” to Florida.
The relocation to Tampa from Glendale, California, was outlined in a recent regulatory filing. A spokeswoman didn’t say whether Gundlach himself relocated to Florida, which has no state income tax.
“Key decisions impacting the policies and strategy of DoubleLine Capital” will now be conducted in the Sunshine State, as will regular meetings of its board of managers, the firm said in the filing.
The billionaire fund manager has long complained about taxes and quality of life in California. Gundlach, 62, could save millions of dollars by moving to Florida.
Many other wealthy financiers have already relocated there from locales including California, New York and New Jersey, where combined state and local levies can reach double digits.
DoubleLine employees have been working remotely since the pandemic with the flexibility to use office space as needed, the spokeswoman said, without elaborating on the reason for the change of its principal office, now located at 2002 N. Tampa St.
Even when Glendale was DoubleLine’s principal office, most of the firm’s operations were housed in nearby Los Angeles, which continues to serve as the company’s headquarters, according to its website.
