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Hedge Funds Are Ready to Get Out of New York and Move to Florida

A tax hike is the latest reason the biggest moneymakers are debating leaving for the Sunshine State.

Aerial shot looking north at Skyscrapers and buildings along Miami River, Brickell Key Dr on a beautiful sunny day in downtown Miami Florida
Photographer: Nisian Hughes/Stone RF/Getty Images

Carl Icahn has already left New York. Dan Sundheim is planning to leave. Larry Fink is staying, but is worried about its future.

New York was struggling to retain some of the world’s richest people and the firms they operate even before Governor Andrew Cuomo and state lawmakers hiked taxes on millionaires and billionaires. Wall Street’s biggest names — including Goldman Sachs Group Inc., Apollo Global Management Inc. and Point72 Asset Management — are taking steps to expand elsewhere, especially Florida.