Saturday, 25 April 2015
Last updated 1 day ago
Dec 1 2008 | 2:04am ET
The collapse of the mortgage market has made John Paulson an extremely rich man, but it may be costing him in the sale of his old Hamptons getaway.
The Paulson & Co. founder, who bet big against the subprime mortgage market last year and rode the wave to triple-digit returns, making his firm one of the biggest hedge fund managers in the world, has cut the asking price for the seven-bedroom digs in Southampton, N.Y., by another $3 million, just months after reducing it by $2.6 million.
The 6,800-square-foot “cottage” on three acres—and featuring an enclosed pool—is now listed for $13.9 million. Paulson paid $12.75 million for the home two-and-a-half years ago.
Earlier this year, the hedge fund billionaire decamped to even grander digs nearby, a 10.4-acre estate known as “Old Trees.” The new lakefront home cost Paulson $41.3 million.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…