Coronavirus: Billionaire US investor Julian Robertson's companies claim almost $1.3 million from NZ Government wage subsidy

Billionaire US investor Julian Roberston's New Zealand-based companies have received almost $1.3 million from the Government wage subsidy, it has been revealed.

He has several NZ golf courses, resorts, and lodges including Northland's Kauri Cliffs Golf Course and Lodge owned by Waiaua Bay Farm.

"Our staff are an important asset, and the New Zealand Government’s wage subsidy helps protect them," a spokeswoman for Robertson told Stuff.

Forbes estimates that Robertson's net worth is US$4.4 billion.

According to the Ministry of Business, Innovation, and Employment wage subsidy search tool, Robertson's businesses have received $1.29m. Waiaua Bay Farm received $462,494, D R Wines $49,207.20, Matakauri Lodge $193,999, and Cape Kidnappers Station $580,538.

For a business to qualify for the wage subsidy scheme, they have to demonstrate a 30 percent loss in revenue in any one month between January and June this year compared with the same month in 2019.

Over 420,000 businesses have received around $10.5 billion from the scheme so far, Radio New Zealand reports.

Businesses who qualify receive a lump sum payment of $7029.60 for each full-time worker and $4200 for each part-time worker. The entire payment must be passed on to employees unless their normal wages are below the subsidy, in which case the worker must be paid at least their normal wages.