John Paulson made a fortune on Wall Avenue betting the housing market would collapse. His reinvention as a property tycoon opening Puerto Rico to the rich is proving trickier.
The 67-year-old has spent a whole lot of thousands and thousands of {dollars} over a decade shopping for and creating luxurious resorts, condos and high-rise workplaces within the U.S. territory. The island’s authorities has launched tax breaks to draw wealthy residence patrons and companies, and Paulson has stated the chance is akin to Miami earlier than its epic increase within the Nineteen Eighties.
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