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Neilson Barnard / Getty Images for the New York Times
Carl Icahn brings his talents to South Beach.
The activist investor closes the New York offices of its public company Icahn and transfers its operations to Miami next year, according to the New York Post.
Icahn had been considering the move for a few years and he informed his employees several months ago that he was planning to close the New York office by the end of March 2020, the post office reported.
Employees are offered a $ 50,000 moving allowance if they decide to join Icahn in Florida, which will be paid in April 2020 for those who make the state their permanent residence.
The billionaire investor also assured staff that they would receive a minimum wage and a bonus in 2018 in 2018 for the following year. In addition, any person dismissed before the end of March 2023 will receive an "immediate payment" of the same amount, according to the Post Office.
Read more: Major Wall Street Investors Say They Have Difficulty Finding Huge Stock Market Bets – And Their Paralysis May Mean Imminent Collapse
Icahn Enterprises has about 50 employees and more than half, including several lawyers and analysts, are expected to move to Florida. One of the main benefits of offshoring in Florida is the state's poorly competitive tax rate. A report from Bloomberg confirmed Thursday that taxes were a decisive factor for Icahn.
Icahn is well known as a voice activist investor who is constantly looking for ways to improve the performance of his portfolio companies. In July, he launched a proxy battle against Occidental Petroleum over the $ 38 billion acquisition of Anadarko Petroleum.
Icahn also has significant holdings in Caesars Entertainment, Xerox and Newell Brands.
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