We find static spherically symmetric solutions of scale invariant $R^2$ gravity. The latter has been shown to be equivalent to General Relativity with a positive cosmological constant and a scalar mode. Therefore, one expects that solutions of the $R^2$ theory will be identical to that of Einstein theory. Indeed, we find that the solutions of $R^2$ gravity are in one-to-one correspondence with solutions of General Relativity in the case of non-vanishing Ricci scalar. However, scalar-flat $R=0$ solutions are global minima of the $R^2$ action and they cannot in general be mapped to solutions of the Einstein theory. As we will discuss, the $R=0$ solutions arise in Einstein gravity as solutions in the tensionless, strong coupling limit $M_P\rightarrow 0$. As a further result, there is no corresponding Birkhoff theorem and the Schwarzschild black hole is by no means unique in this framework. In fact, $R^2$ gravity has a rich structure of vacuum static spherically symmetric solutions partially uncovered here. We also find charged static spherically symmetric backgrounds coupled to a $U(1)$ field. Finally, we provide the entropy and energy formulas for the $R^2$ theory and we find that entropy and energy vanish for scalar-flat backgrounds.