How An American Colony Attracts The Super Rich



Puerto Rico officially became a U.S. territory in 1898 when there were 45 states. Since then, the U.S. has added five more states and nothing has changed for Puerto Rico. Over time the U.S. has tried various methods to attract businesses to the island to create an economic boom after the price of sugar sank in the 1930’s. The latest incentive, Act 20 & 22 were passed into law from the Puerto Rican government which would entice some of the wealthiest Americans to move over there to pay little taxes. I recently reached out to Jesse Barron who wrote about what he witnessed firsthand in GQ when he visited the island earlier this year; about these super rich people who moved over to this island for these tax breaks.

You can keep up with Jesse Barron’s work by following him on twitter here and read his latest piece on Puerto Rico that we discussed here.