These NYC Billionaires Got COVID Stimulus Checks: Report

New York City NY

08 November, 2021

3:46 PM

Description

NEW YORK CITY, NY — The federal CARES Act was meant to help those who were struggling during the COVID-19 pandemic. But a report from ProPublica shows 18 billionaires and more than 200 other wealthy people got a stimulus check, too. Four of the people named in the report either live in New York City or are tied to companies headquartered there. They reported taxable income under the CARES Act threshold of $75,000, using deductions and tax write-offs, ProPublica reported. The billionaires with New York City ties that ProPublica reported received stimulus checks are: Ira Rennert, chairman and CEO of Renco GroupGeorge Soros, investor and hedge fund managerJoseph DiMenna, hedge fund manager and managing director of Zweig-DiMennaRichard S. Fuld Jr., former chairman and CEO of Lehman Brothers Soros' representatives told ProPublica he returned his check. Rennert, DiMenna, and Fuld did not comment. More information is available via ProPublica.