Connect with us

Hi, what are you looking for?

Jewish Business News


Why Connecticut Doesn’t Want Hedge Fund Manager Steve Cohen to Leave

Steve Cohen and other hedge fund managers provide major tax revenues to their states

Steve Cohen

It is no secret that taxes from the super rich create major revenues for states, but how much states lean on hedge fund managers and others makes it imperative that they discourage millionaires and billionaires from leaving. It hasn’t gone so far that states actually track the habits for the wealthy to ensure they aren’t contemplating relocating, but one billionaire who is not mentioned was so sought after the tax officials actually asked him his plans, and were relieved that they were only losing him as a resident, but his hedge fund was staying in Connecticut.

Connecticut’s state revenue commissioner, Kevin Sullivan, told, “At least we didn’t lose both (the residence and the hedge fund) … There are probably a handful of people—five or seven people—who if they just picked up and went, you would see the revenue stream.” The article didn’t reveal who comprises this handful, but one can guess that Steve Cohen might be on the list. Since getting into hot water on charges of insider trading with one of the most successful hedge funds SAC Capital, he has been managing only his own money at Point 72 based in Greenwich Connecticut. Cohen is passionate about ensuring that his fund doesn’t fall afoul of regulators, and has even offered jobs to ex-FBI agents and former regulators to work at his $10 billion fund. While the offers haven’t had takers yet, it seems that Cohen is determined to polish up his image.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News