Billionaire John Paulson, who netted $20 billion from the 2008 'Big Short' crisis, quits the hedge fund world

• John Paulson has quit the hedge fund world to focus on turning his business into a family office investment firm, according to Bloomberg.
• "With one chapter closing, a new one is beginning for me and I look forward to continuing as an active participant in financial markets," he said in a letter to investors seen by the news agency.
• Paulson is famous for betting against the US housing market before the financial crisis and reaping huge returns, reportedly making a $20 billion profit.
• Visit Business Insider's homepage for more stories.

Billionaire John Paulson is the latest hedge fund celebrity to walk away from the business, Bloomberg reported on Wednesday.

64-year-old Paulson will be converting his hedge fund, John Paulson & Co, into an investment firm solely meant for his family.See the rest of the story at Business Insider

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