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Hedge Fund Execs Dragging Down The Richest New Yorkers

by crainsnewyork.com posted 8months ago 47 views
Earlier this week, new figures on income and taxes from the Independent Budget Office showed a big increase in the amounts needed to be a proud member of the Top 1% or even the Top 10%. But those figures also showed that the percent of income attributed to the top 1% declined in 2015 and 2016 by almost five percentage points. Nationally, there was a very small tick downward. Could this mean the richest New Yorkers are moving elsewhere? No, but it might mean that the hedge fund business wasn’t very lucrative in those years – and probably not since.

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