New York City Has Lost $1 TRILLION Dollars as Wall Street Firms Flee to Other States

 Wall Street firms are fleeing New York City and have been doing so for a few years now.

The New York Post reports: 7 Reasons to Stock Up on Long-Term Storage Premium Beef Right Away New York loses $1 trillion in Wall Street business as firms flee the city: report A giant, sucking sound is coming out of Wall Street - and it's siphoning staggering sums of money out of the Big Apple while handing business to Florida and other states farther south.

Nearly 160 Wall Street firms have moved their headquarters out of New York since the end of 2019, taking nearly $1 trillion - yes, that's trillion with a "T" - in assets under management with them, according to data from 17,000 companies compiled by Bloomberg.

Icahn Capital Management - headed by billionaire corporate raider Carl Icahn - is among the most prominent firms to decamp to the Sunshine State.

Icahn's firm, which manages $22.2 billion in assets, now conducts business less than a mile away from his mansion in Indian Creek Village.

John Nolte of Breitbart News makes a great point about this: Imagine what this drain is doing to New York's tax base.

See ya! Like San Francisco, New York City is entering a doom loop and it's going to get worse before it gets better.

https://www.thegatewaypundit.com/2023/08/new-york-city-has-lost-1-trillion-dollars/