Hedge Fund Paradise Puerto Rico

Puerto Rico’s aging and fragile power company was already bankrupt and in desperate need of repair when Hurricane Maria tore across the island in 2017. The storm caused more than $90 billion worth of damage and knocked out electricity in some areas for almost a year.

A house in the upscale community of Dorado recently went on sale for $44 million, setting a new local record. 

Act 60. The program allows newcomers to pay no federal income tax and zero taxes on dividend, interest and capital gains income — making it popular with investors and crypto holders. But those already living on the island aren’t eligible for all the perks

Bloomberg 18 August 2023

https://www.bloomberg.com/news/features/2023-08-18/puerto-rico-s-power-problem-spotlights-poverty-affordability-crisis


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