Paul Tudor Jones II had a question for the audience at the Greenwich Economic Forum in Connecticut.
“How many believe in the capitalist system?” he asked the room. He scanned the raised hands. “Virtually everybody this room,” he observed, maybe overstating it.
Jones, the founder of hedge fund Tudor Investment and one of the industry’s pioneers, echoed comments made earlier this month by fellow billionaire hedge fund founder Ray Dalio. At the Summit conference in Los Angeles, Dalio said capitalism is “basically not working for the majority of people”.
Like Dalio, Jones highlighted yawning inequality in the US.
“Wealth disparity is the single most threatening social problem we face as a country,” Jones said on Thursday. In that way, he said, “the US unfortunately leaves the rest of developed world,” and “you can kind of see the fissures that come from that”.
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