Business as Usual

At Least 18 Billionaires Received COVID Stimulus Checks

A new report from ProPublica found that more than 200 ultra-rich people got pandemic relief “intended to help middle-class Americans.”

At least 18 billionaires and more than 250 ultra-rich people received pandemic stimulus checks that were meant for the working and middle class, according to a new report from ProPublica. The story, which drew on leaked files from the Internal Revenue Service, found that billionaires including Ira Rennert, George Soros, and outgoing Minnesota Timberwolves owner Glen Taylor received the payouts—because of tax deductions that reduced their reported incomes to as low as negative $291 million. A number of billionaires mentioned in the article did not respond to ProPublica's requests for comment, though Soros’ representative said the billionaire returned his check and “certainly didn't request one.”