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BN: Obama, hedge fund titans = "small businesses"

Started by jason10006
almost 16 years ago
Posts: 5257
Member since: Jan 2009
Discussion about
And lets be clear. its not EACH hedge fund or private equity shop. Its EACH partner in each firm. So both KKR and SAC are each 100+ "small businesses." http://www.bloomberg.com/news/2010-09-20/obama-soros-are-among-small-businesses-bearing-share-of-tax-on-wealthy.html
Response by se10024
almost 16 years ago
Posts: 314
Member since: Apr 2009

jason, do you know how many partners are there in a typical hf?

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Response by jason10006
almost 16 years ago
Posts: 5257
Member since: Jan 2009

I would guess less than 10. Maybe 5-10 is the average? But not true for a bigger or more profitable WS partnership (bank, fund or otherwise) like Lazard, SAC, KKR, Cantor, etc, where you can have 50-400 people who get pass-through income. Its not being called "partner" that matters, its do you get a k-1 or similar? Ditto for Law firms, auditing firms, doctors, etc. Its pass through income.

I guess hiring nannies and maids and sending you kids shopping at Bergdorf's is "job creation."

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