Real-estate veterans and hedge-fund executives believe a seismic shift is under way, one that is moving vast amounts of Wall Street wealth from New York to South Florida. For the past several years, Wall Street has been colonizing the Sunshine State, attracted to more favorable tax policies and sunnier climes. And the momentum is only accelerating amid the pandemic.
David S. Goodboy, founder of the Palm Beach Hedge Fund Association, a networking organization for finance professionals in South Florida, said he saw his base of paying members almost triple in the past year. When he scheduled an in-person networking event in January at the West Palm Beach home of one of the organization’s wealthy members in January, he said he was shocked to get 300 RSVPs.
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