In the last ten years, hedge fund investor Adam Wyden made his investors 12 times richer by uncovering hidden stock gems. His biggest worry? That his Democratic Senator father will tax his gains to death.
From the sun-drenched house he’s renting in the ritzy Miami enclave of Bay Harbor Island, Adam Wyden is livid at the news crossing his Bloomberg terminal. It’s April 22, and markets are sinking on a report that President Biden aims to raise capital-gains tax rates to 39.6% for high earners, effectively doubling the rate for rich investors.
“It’s anti-American!” Wyden bellows. “I’m very disappointed with American governance right now. Do you think any of these guys actually know what they’re doing?”
For an answer, Wyden could ask his father, Senator Ron Wyden, a Democrat from Oregon and chairman of the powerful Senate Finance Committee. The elder Wyden is a tax-the-rich champion who dubbed former President Trump’s corporate tax cuts a “partisan tax scam.” His son, by contrast, isn’t registered with either political party but instead is a card-carrying member of the Benjamin Graham party, with a dogged devotion to finding undervalued stocks. And his record to date has been nothing short of staggering.
Over the past decade, the younger Wyden, 37, has grown his bar mitzvah money and personal savings into a $350 million hedge fund in which his share is now worth $100 million. Through his Miami-based…