Posted on 08/21/2023 7:35:38 PM PDT by lowbridge
A giant, sucking sound is coming out of Wall Street — and it’s siphoning staggering sums of money out of the Big Apple while handing business to Florida and other states farther south.
Nearly 160 Wall Street firms have moved their headquarters out of New York since the end of 2019, taking nearly $1 trillion — yes, that’s trillion with a “T” — in assets under management with them, according to data from 17,000 companies compiled by Bloomberg.
Looking to dodge rampant crime, stiff taxes and an increasingly exorbitant cost of living, 158 fed-up financial firms representing a whopping $993 billion in assets have packed up and left the Big Apple, taking thousands of high-paid employees with them, the data shows.
Icahn Capital Management — headed by billionaire corporate raider Carl Icahn — is among the most prominent firms to decamp to the Sunshine State. In August 2020, the firm ditched his posh Manhattan digs atop Fifth Avenue’s General Motors Building in favor of a 14-story office complex in a Miami suburb.
Icahn’s firm, which manages $22.2 billion in assets, now conducts business less than a mile away from his mansion in Indian Creek Village.
Meanwhile, hedge-fund tycoon Paul Singer’s Elliott Management — which commandeers a total of $59.2 billion after shaking up investment targets including AT&T, Twitter and the government of Argentina — moved its headquarters from Midtown Manhattan to West Palm Beach, Fla., in October 2020.
One year later, closely watched tech-stock guru Cathie Wood — famous for her bold, windfall bet on Elon Musk’s car maker Tesla –moved her firm ARK Investment Management — and its $24.7 billion worth of assets — to St. Petersburg, Fla.
(Excerpt) Read more at nypost.com ...
It’s okay there’s tons of illegals to take their place
Have fun suckers
Sanctuary city
Bahahaha
Stupid libtards
Rush moved to Florida to escape NY taxes, but I seem to recall him having an issue with additional taxes whenever he returned to NY. While at the same time the political NY elite celebrated his leaving.
NY wants their cake and eat it too.
Rush moved to Florida to escape NY taxes, but I seem to recall him having an issue with additional taxes whenever he returned to NY. While at the same time the political NY elite celebrated his leaving.
NY wants their cake and eat it too.
When people live or work in a bad neighborhood, their only solution might be to move. Duh!! NY dopes and other woke areas dopes, don’t get it or want to be in denial, because, well... the woke thing matters more to them. They have no way to become unwoke.
Sanctuary cities = Trillions $ lost! Ha!
And companies fleeing kommiefornia and New Yuk are taking employees with them to civilized states. And said companies and employees are likely commie pinkos. Lose/lose.
Florida doesn't put up with WOKE crap, we're allowed to run over protesters if they surround our car and we feel threatened, no state income tax (ZERO $) and it's against the law to teach CRT in our schools. Did I mention George Soros prosecutors are fired? So we don't have crime problems like New York... Yeah, I know why they're coming here.
How wonderful. Let it declare bankruptcy then see what happens. All those liberals will have their pants full of crap. Then what will the state do with all the illegal moochers?
How sweet it is!!!
— Jackie Gleason..
“Game rooms”?
Schwab West Lake, Tex.
Should have dropped dead back in 1975, like Gerald Ford wanted it to.
Schaudenfreude
Or if you prefer, comeuppance
This is just prudent business behavior. NYC will be under water very soon we are told. Why, by the year 2000 lower manhattan will be submerged....
Soon the Mayor will be begging to sell Manhattan back to the Indians for $27 so they can open casinos there.
Midtown Manhattan can house thousands of immigrants! Load up the buses Texas.
Think its bad now. Wait until 2030
Fourteen major American cities are part of a globalist climate organization known as the “C40 Cities Climate Leadership Group,” which has an “ambitious target” by the year 2030 of “0 kg [of] meat consumption,” “0 kg [of] dairy consumption,” “3 new clothing items per person per year,” “0 private vehicles” owned, and “1 short-haul return flight (less than 1500 km) every 3 years per person.”
Austin, Boston, Chicago, Houston, Los Angeles, Miami, New Orleans, New York City, Philadelphia, Phoenix, Portland, San Francisco, Washington, D.C., and Seattle.
lmao
I hate to see New York dying the slow death it is now.
My ancestor settled in Brooklyn in February, 1659.
Next generation moved to New Jersey and we have been there since then.
Times have changed, since then, the radical left has screwed it up.
The Dutch were and still are liberal to a fault.
They tolerated outlandish behavior as long as it did not interfere with their COMMERCE!
We should revisit that idea. It has killed New York
The present inhabitants deserve it, in SPADES!
Its been a LONG time since NYC was civilized...
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