New York’s wealthy are heading South in a bet on lower taxes and better weather

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • NYC Wealth Exodus Drives Billionaire’s Bet on South Florida Boom
  • In the past two years, major technology, finance and law firms have moved or expanded to South Florida, drawn by the lower taxes and warmer weather. Ken Griffin’s Citadel has relocated its headquarters to Miami from Chicago, while companies including Apollo Global Management Inc. and Blackstone Inc. have taken space in the region.
  • “New York will continue to grow, but it has its challenges, and a lot of people who don’t have to be there are looking not to be there,” Ross said. “It’s changing, it’s getting younger, the older people are moving out, the wealthier people are moving out.”

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