Wall Street's $100m Man - and What Money Can Buy

Some things never change.

Andrew J. Hall, the former Citigroup oil trader whose pay package of about $100m ensnared him in the fight over compensation at bailed-out banks in 2009, is selling handmade lavender soap and grass- fed Angus beef from a farm in Reading, Vermont.

Bloomberg reports that Hall, now chief executive officer of Occidental Petroleum Corp’s commodity-trading unit Phibro, has bought more than 2,400 acres in Reading, according to local real estate records.

He has torn down at least half a dozen homes in the 666-person central Vermont town and opened an appointment-only art museum there last year. His holdings, including Newhall Farm, are valued at more than $13.8m, the records show.

'Look at the rest of the world, it’s going to hell in a wheelbarrow, and he’s trying to keep a little section of Vermont the way it was', said John Mitchell, a former town auditor.

Hall’s impact on the 251-year-old town, a four-and-a-half-hour drive from New York City, shows what Wall Street pay that attracts Washington’s attention can buy.

While Mitchell called Hall’s work in Reading 'wonderful', more than a dozen other residents said they were less sure, citing razed homes, the lower tax rate Hall pays on some of his land and a dispute with a next-door neighbor over power lines.

Hit the link below to access the complete Bloomberg article:

Wall Street $100 Million Man Makes Vermont Downton Abbey

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image: © Bullion Vault

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