Ken Griffin Sues IRS

Billionaire hedge fund manager Ken Griffin is suing the Internal Revenue Service for the illegal leaking of his tax returns from 2021 to news site ProPublica last year. The CEO of Citadel declared a breach of privacy laws by both the IRS and Treasury Department after the tax returns of Jeff Bezos, Elon Musk, and Stephen Ross were all revealed to the public.

ProPublica posted an article exposing many of the wealthiest Americans and their returns in exposes titled “The Secret IRS Files.” The report said that Griffin was generating an annual income of around $1.7 billion, but only paying a 29.2% tax rate, which was over 10% lower than the top marginal income tax rate of 40%. ProPublica has not revealed how they received the information, however the lawsuit still stands against the IRS.