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Home / Business / Charlie Munger on HQ2: Surrendering the rich is pretty stupid if you're a state or a city. & # 39;

Charlie Munger on HQ2: Surrendering the rich is pretty stupid if you're a state or a city. & # 39;



  • Charlie Munger, vice chairman of Berkshire Hathaway, has weighed Amazon's decision to move to New York City.
  • He told the CNBC on Thursday in an interview that says, as in New York, that "the rich people are being expelled" are "pretty stupid."
  • Amazon's surprise announcement on Thursday triggered a debate across the political spectrum as to whether the decision was a win or a loss.
  • Follow the stock price of Amazon here markets Insider.

Charlie Munger, Berkshire Hathaway's deputy chairman, turned to Amazon's decision to thwart its plans for New York's headquarters when he said in an interview on Thursday that he believed the city had "pretty much hit the tech giant." stupid "expelled.

"There are a number of places that have shot themselves in the foot," Munger said in an interview with CNBC, responding to a question about whether New York had "made a big problem for itself," even though the first Amazon-defied plan.

He continued, "Connecticut, California, New York City It's – it's – it's serious, and expelling the rich people is pretty stupid if you're a state or a city." And the idea of that you & # 39; "We will help New York by driving the rich people out. Of course, it hurts New York. "

He said other states were unwise to" drive out the rich. "

" I know many wealthy people who have left California, "he told Becky Quick from CNBC. "I think it's really stupid for a state to drive out the rich people. They are old. They make sure your hospitals are busy. You do not burden your schools, the police department and your prisons. You give a lot. Who would not do that? "I think Florida and Hawaii were both very wise in the way they recruited rich people, and I think Connecticut and California were stupid."

Amazon's surprise announcement on Thursday resolved a political debate from spectrum about whether the decision was a win or a loss. Led by Jeff Bezos, the company ended its hunt for a second headquarters last November when it announced it had landed in both New York and Virginia.

The advocates claimed it had brought thousands of jobs and economic opportunities into the city; Opponents said headquarters in Queens' Long Island City region would have pushed up home prices and strained the already congested public transport.

Amazon's shares have been largely subdued since the announcement. The stock was down less than 1% on Friday; So far this year it has increased by 8%.

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