Around 18 billionaires had received the COVID stimulus checks that were supposed to help the needy people stay afloat in these harsh times. The Americans are facing the horrors of unemployment and other economic disruptions. Some of the billionaires have reportedly returned the sent checks.
The Billionaires Who Received These Stimulus Checks
It was reported that George Soros and Ira Rennert had received the check. George has an estimated value of $8.6 billion while Ira is worth $3.7 billion. They had both returned the stimulus checks but Rennert refused to comment further.
The billionaires had received the checks from the government as a part of the CARES Act as they were eligible for the automatically disbursed cash after returning their income as business expenses.
Timothy Headington, Oil mogul, and Rennert were mentioned in the list as they had recorded negative net incomes in the last year and wrote off their millions of dollars worth of income.
Another check was sent to Robert Dart, who is a member of the Dart family, even though he filed his taxes from the Cayman Islands. The members of the Dart family had given up their citizenships in the 90s to dodge taxes in the US. They believe that they should not have been the recipient of these checks and also did not request one.
The CARES Act stimulus check was given to married couples reporting a joint tax return with a combined income of less than $150,000 a year and singles with an income less than $75,000 at the end of 2019.