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Policy Plate BLOG

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Billionaires Who Benefit From Farm Subsidies

Thursday, November 7, 2013

An analysis released today by EWG shows that at least 50 billionaires or the farm businesses they had financial interests in have received over $11 million in traditional farm subsidies between 1995 and 2012.

Billionaires collecting farm subsidies were identified by matching EWG’s Farm Subsidy Database with the Forbes 400 list of the richest Americans. Many of these same billionaires may have also received federal crop insurance subsidies, but taxpayers have no way of knowing.

See just a few of the billionaires who have benefitted from farm subsidies below:

·         Paul Allen (Net worth: $15.8 billion), co-founder of Microsoft

·         Charles Ergen (Net worth: $12.5 billion), co-founder of DISH Network

·         Philip Anschutz (Net worth: $10 billion), owner of Anschutz Entertainment Group and co-founder of Major League Soccer

·         Leonard Lauder (Net worth: $7.6 billion), former CEO of the Estee Lauder Companies Inc.

·         Richard DeVos (Net worth: $6.8 billion), co-founder of Amway and a former candidate for governor of Michigan

·         Jim Kennedy (Net worth: $6.7 billion), chairman of Cox Enterprises

·         S. Truett Cathy (Net worth: $6 billion), founder of Chick-fil-A

·         Leslie Wexner (Net worth: $5.7 billion), CEO of L Brands Inc., which owns Victoria's Secret

·         Charles Schwab (Net worth: $5.1 billion), founder of brokerage firm Charles Schwab Corporation

·         Penny Pritzker (Net worth: $2.2 billion), U.S. Secretary of Commerce

See the full list of names and analysis here.

Table Scraps:

Read more about EWG’s new analysis in the New York Times and Bloomberg News.

Tweet of the Day: @EnviroDetroit Senate Candidate Who Received Thousands In Farm Subsidies Decries Existence Of Farm Subsidies 

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