Paul Singer (businessman)

[6][12][13] He has provided funding to the Manhattan Institute for Policy Research,[5] is a strong opponent of raising taxes for the wealthiest 1 percent of taxpayers, such as himself, and opposes aspects of the Dodd-Frank Act.

[5] In 2009 The Guardian reported that Singer "through a brilliantly complex financial manoeuvre, took control of Delphi Automotive, the sole supplier of most of the auto parts needed by General Motors and Chrysler".

[21] In December 2011 Elliott Associates sued Vietnam's state-owned shipbuilder Vinashin in the UK for defaulting the year before on a US$600 million syndicated loan.

[29] Termed a "specialist in activism in technology companies" by The Wall Street Journal in June 2015,[24] Elliott Management's varied portfolio also includes a prominent tech component.

[30] On 1 February 2020, several weeks before many Americans had heard of COVID-19, Singer wrote a memo to his employees about preparing for the possibility of being quarantined for at least a month due to the virus.

[34]: 301 [35] In the early 1990s, Singer began using the strategy of purchasing sovereign debt from nations in or near default, such as Argentina,[5][36][37][38] and Peru,[10][39][40] through his NML Capital Limited,[10] and Republic of the Congo through Kensington International Inc.[9] Singer's practice of purchasing distressed debt from companies and sovereign states and pursuing full payment through the courts has led to criticism.

[38][41] Singer and EMC defend their model,[6] saying it is "a fight against charlatans who refuse to play by the market's rules",[36] and supporters of the practice have said it "help[s] keep kleptocratic governments in check".

Elliott successfully appealed the case to the UK Supreme Court, which ruled that Elliott had the right to attempt to seize Argentine property in the United Kingdom, and on October 2, 2012, Singer arranged for a Ghanaian Court order to detain an Argentine naval vessel in a Ghanaian port in an effort to force Argentina to pay the debt, but was rebuffed when the seizure was barred by the International Tribunal for the Law of the Sea.

[53][54] In March 2014 NML Capital unsuccessfully attempted to satisfy court awards by suing SpaceX, seeking the rights to two satellite-launch contracts bought by Argentina valued at $113 million.

[60][61][62][63][64] According to Fortune, Singer focused from early times "on distressed assets", buying up bankrupt firms' debt and acquiring "a reputation for strong-arming his way to profit".

[5] Fortune noted in 2012 that losses sustained early in Singer's career led to a "risk aversion that still guides his investing today.

[5] Describing him as "one of the smartest and toughest money managers in the business", the article further notes that his firm "is so influential that fear of its tactics helped shape the current 2012 Greek debt restructuring".

[10] Singer describes his business model as "a fight against charlatans who refuse to play by the market's rules",[36] and in 2013 told Alpha Magazine that "we've made the point over and over again that sovereigns that could pay their debts and choose not to may be attempting to save some money but are harming their people and their economies by making investing in their countries more risky and more problematic and by discouraging foreign investment.

Elliott had loaned $400 million to the previous owner to help him purchase the club, which plays in Italy's top football league, Serie A.

[66] However, on 1 June 2022, RedBird Capital Partners agreed to acquire AC Milan for $1.3 billion, with Elliott retaining a minority stake.

[67] Singer signed The Giving Pledge, which signals a commitment by individuals to donate more than half of their wealth within their lifetime to address society's "most difficult moral and economic challenges".

[72] In November 2018, after the Pittsburgh synagogue shooting, the Paul E. Singer Family Foundation announced it would donate $1 million to upgrade security at Jewish institutions in New York.

[12][92] That same year, Singer led a financial industry fund-raising effort for Rudy Giuliani, first as regional finance chair and later as senior policy adviser.

[94][95] That same year, Singer at $175,000 was the sole contributor to a campaign to support a petition drive for a proposed California initiative to apportion the state's 55 electoral votes by congressional district.

At least 19 of the state's 53 congressional districts were expected to vote for a GOP presidential candidate, enough to change the national results in a close election.

[99][100][101] In 2012, Singer founded the nonprofit Start-up Nation Central, an NGO aimed at developing collaboration between Israel's tech sector and outside investors.

A few years later Alito voted with six other colleagues in Republic of Argentina v. NML Capital, Ltd. brought by Singer's companies after Argentinian debt was bought up.

According to the New York Times, the PAC's "sole mission will be to encourage Republican candidates to support same-sex marriage, in part by helping them to feel financially shielded from any blowback from well-funded groups that oppose it".

[121] In 2015, the Washington Free Beacon, largely funded by Singer, hired Fusion GPS to unearth damaging information on Republican candidates for the office of President of the United States.

[125] In 2009 he wrote "Free-Marketeers Should Welcome Some Regulation", a column in which he argued: "It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans.

[5] At a September 2006 financial conference in New York City, Singer delivered a speech called "Complexity Made Simple", advising that the purchase of collateralized debt obligations (CDOs) was a serious mistake and anticipating the downturn of the housing market by nearly a year before the $770 billion taxpayer-funded bailout.

[127] In 2020 Singer ranked 222 on the Forbes 400 list of the richest Americans, 538 among the world's billionaires, and the 19th highest earning hedge fund manager.

[5] He began studying classical piano at the age of 10 and formed a family band with one son on guitar, another on drums, and his son-in-law on saxophone.