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Hedge Hunters: After the Credit Crisis, How Hedge Fund Masters Survived, 2nd Edition by Katherine Burton

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Chapter 8

Boone Pickens

The Imperturbable Oilman

ONE REASON BOONE PICKENS likes his new job as hedge fund tycoon so much is that it's a lot more lucrative than any work he's done before. “I've made more money since I've turned seventy,” says Pickens. That birthday came just a few years after starting his first fund with BP Capital Management in Dallas. In April 2006, when he made out his check to the Internal Revenue Service, his accountant told him that since becoming a septuagenarian he'd paid 90 percent of all the taxes he'd ever forked over to Uncle Sam—surely a considerable sum, given that by 2007 only about 350 people in the country had more wealth than Pickens, according to Forbes.

Pickens's tax obligations show no sign of winding down, ...

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