Billionaire John Paulson to host NYC fundraiser for Trump
When President Trump returns to New York City to speak at the United Nations next week, he will be having a fundraiser at the luxurious Upper East Side townhouse of legendary hedge fund billionaire John Paulson, who is also one of his main economic advisers and an early supporter.
Paulson was the first major Wall Street mover and shaker to publicly endorse Trump after he secured the Republican nomination for the presidency in 2016.
Paulson, who runs the investment management firm Paulson & Co., famously made his name by betting against the subprime mortgage market bubble that led to the Great Recession in 2008. Forbes puts his net worth at $4.2 billion.
Hedge Fund manager John Paulson attends the men's singles final match between Roger Federer of Switzerland and Novak Djokovic of Serbia at the U.S. Open Championships tennis tournament in New York, September 13, 2015. (REUTERS/Mike Segar)
What Paulson did is considered one of the best calls in Wall Street history -- as chronicled in the bestselling 2009 book "The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History."
Like the president, Paulson was born in Queens, New York, and obtained an Ivy League degree, his from Harvard Business School. Paulson reportedly started his eponymous firm in 1994 with $2 million and one employee.
Tickets to the exclusive invitation-only fundraiser at Paulson's 28,500 square foot home, on Sept. 26, cost $2,800 a pop.
A Trump 2020 campaign could not be immediately reached for comment.