Renaissance hedge fund execs to pay $7 billion in settlement with IRS, reports say

Executives at a New York hedge fund have agreed to pay as much as $7 billion to settle a long-running dispute with the U.S. tax authorities, according to reports Thursday.

The Wall Street Journal and The New York Times reported that insiders at Renaissance Technologies agreed to a deal that could be one of the largest in U.S. history. Among those in the settlement are Renaissance founder and prominent Democratic Party donor James Simon, and Robert Mercer, who was a major donor to former President Donald Trump's campaign, according to the reports.