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New York hedge fund Elliott Management moves to Palm Beach

Hot on the heels of New York billionaire Carl Icahn transferring his operations to Miami, word has come that Manhattan financier Paul Singer is likewise moving his hedge fund Elliott Management to South Florida—Palm Beach, to be exact.

Elliott Management is currently headquartered in Midtown Manhattan, but the pandemic’s effect on the city’s office culture made Singer reconsider its location, according to the New York Times. While Singer and some employees will continue working out of the New York office, Jonathan Pollock, Elliott’s co-chief executive, will work out of the new Palm Beach office. The hedge fund with $41 billion in assets will also open offices in Greenwich, Connecticut.

The news comes amidst concerns that this move and others will damage New York City’s economy. With 500,000 people unemployed, personal income tax will fall by $2 billion—add to that the fact that many commute to the city for work each day. In Florida on the other hand, Elliott Management will enjoy the benefits of not having to pay estate tax or capital gains tax.

Photo: Wikimedia Commons

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.