New Jersey’s Entire State Budget Could Be in Trouble Because One Hedge Funder Is Moving to Florida

David Tepper is a hedge fund legend with an estimated $11.4 billion fortune. He is also moving his official residence to Florida, which lacks an income tax or estate tax, and is therefore a fetching locale for extreme wealth. This is a problem for his erstwhile home state, New Jersey, where officials are now having difficulty figuring out how much money they will be able to collect in taxes, Bloomberg reported.

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