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Robert Mercer

The News-Gazette

Robert Mercer

RANTOUL — Robert Mercer, 61, of Rantoul died Thursday (Oct. 14, 2021) at Carle Foundation Hospital, Urbana. No services will be held. Lux Memorial Chapel, 1551 E. Grove Ave., Rantoul, is in charge of arrangements.

GOP Mega-Donor Robert Mercer Part of Massive $7 Billion Tax Settlement With IRS

A new settlement with the Internal Revenue Service will require executives at Renaissance Technologies to pay “approximately $7 billion in back taxes, interest and penalties,” according to The Wall Street Journal. The settlement, which reportedly may be the largest ever of its kind, includes an additional $670 million contribution from James Simons, the billionaire founder of the quantitative hedge fund. Robert Mercer, a major backer of Donald Trump, is also a party in the deal. “We engaged for several years in the IRS Appeals process,” Renaissance’s CEO Peter Brown wrote in a letter obtained by the Journal. “Renaissance’s board eventually concluded that the interests of our investors from the relevant period would be best served by agreeing to this resolution.”

Robert Mercer, James Simons, other Renaissance hedge fund executives agree to $7 billion tax payment

A group of current and former executives at pioneering hedge fund Renaissance Technologies have agreed to pay up to $7 billion in back taxes, interest, and penalties, the company told investors Thursday. The settlement ends a long dispute with the Internal Revenue Service over how some Renaissance funds booked short-term gains for tax purposes. It is one of the biggest tax settlement in U.S. history, if not the largest, The Wall Street Journal reports.