Hedge fund manager John Paulson, 57, is No. 93 on Bloomberg’s ranking with a net worth of $11.2 billion. Last year, executives at his firm sent about $450 million to a reinsurance company that they’d set up in Bermuda. By June, the island company, which has no employees and sells far less reinsurance than the industry norm, had sent all the cash back to New York, to be invested in Paulson & Co. funds. The little- known tax loophole allows them to reduce their personal income taxes and delay paying the bill for years.
The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net worth figure is updated every business day at 5:30 p.m. in New York and listed in U.S. dollars.