Hedge-fund manager John Paulson owes about $1 billion in federal and state taxes this year, The Wall Street Journal detailed Wednesday, refering to individuals comfortable with the issue.
That figure is over about $500 million he paid toward the end of last year, the report stated, refering to sources. Paulson declined to be met by The Wall Street Journal, and an agent did not promptly react to a CNBC ask for input.
Paulson rose to unmistakable quality by wagering against subprime contracts in front of the money related emergency. The exchange earned him and his funds billions, the main part of which he conceded charge installments on. The bill for that exchange is currently due, the report stated, refering to sources.
The firm has not fared well as of late. Resources under administration have dove from a pinnacle of $38 billion to under $9 billion, for the most part having a place with Paulson himself, the Journal stated, refering to sources.
The multifaceted investments has been offering parts of its stake in Caesars Entertainment so it can have enough money to enable Paulson to pull back his cash, the report stated, refering to sources.