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The trick? Route the money to Bermuda and back. With inequality at its highest levels in nearly a century and public debate rising over whether the government should respond to it through higher taxes on the wealthy, the very richest Americans have financed a sophisticated and astonishingly effective apparatus for shielding their fortunes. Some call it the “ income defense industry,” consisting of a high-priced phalanx of lawyers, estate planners, lobbyists and anti-tax activists who exploit and defend a dizzying array of tax maneuvers,  virtually none of them available to taxpayers of m...

roceeds from May 6 Virtual Event to Benefit Student Scholarships at Stony Brook University The Stony Brook Foundation will raise critical funds for student scholarships at its 22nd Annual Stars of Stony Brook Gala held virtually on Thursday, May 6, 2021.  As a special feature of this year’s program, renowned actor Alan Alda, co-founder of the Alan Alda Center for Communicating Science and 2013 Gala honoree, will introduce guests to Stony Brook University’s new president, Maurie McInnis. During their candid conversation, Alda and McInnis will discuss everything from improvisation and the ...

Carl Icahn and his son, Brett Icahn, were on CNBC on Wednesday, and commented on Netflix, Inc. (NASDAQ: NFLX). The latter said he believes it “remains significantly undervalued.” “Netflix is going to be worth some multiples higher of where it is today," he added. Brett... Read More... Don't Miss Any Updates! News Directly in Your Inbox Subscribe to:

These four hedge fund managers together made $10.7 billion last year, raising questions about American society, the economy and its financial rewards.

25 Hedge Fund Managers Made $32 Billion in Pandemic 22 Feb 2021 The year the pandemic threw tens of millions of Americans out of work was extraordinarily good for the bank accounts of the wealthiest hedge fund managers. The top 25 hedge fund bosses made $32 billion, according to  Institutional Investor’s annual Rich List. The list was published Monday. The top earner was Izzy Englander of Millennium Management, who took home an estimated $3.8 billion in 2020. His flagship fund achieved a 26 percent return. The prior year he was number six on the list with $750 million and the year before ...