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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBillionaire Kanye West's Company Gets Multimillion-Dollar PPP Loan From Trump Admin
Billionaire rapper and shoe designer Kanye Wests company has received a multimillion-dollar loan as part of the federal governments coronavirus stimulus package, according to records released Thursday by the U.S. Treasurys Small Business Administration.
The money was handed out in the latest round of the Paycheck Protection Program, part of the Trump administrations $2 trillion CARES Act designed to provide economic relief to small businesses during the coronavirus pandemic.
Yeezy LLC, a California company, is listed in the Treasurys log as a recipient of a loan worth between $2 million and $5 million. The company self-identified as being male-owned and a Black or African-American business. It said 160 jobs were saved using the loan.
California business records list Kanye West as the manager of Yeezy LLC, a holding company established in Delaware and run out of a La Palma, California, office. Wests Yeezy sneaker empire reportedly made $1.5 billion last year.
https://www.thedailybeast.com/billionaire-kanye-wests-company-yeezy-llc-gets-multimillion-dollar-ppp-loan-from-trump-admin?source=twitter&via=desktop
ace3csusm
(969 posts)how and why are these billionaires being given these loans they should be going to small business that couldnt tap their billion dollar bank accounts...we are seeing local business close for good because they couldnt get loans ... these people dont care about regular folks who need these funds ... i though i couldnt have kanye more than i do today...
lindysalsagal
(20,747 posts)Wasteful spending?
soothsayer
(38,601 posts)pandr32
(11,631 posts)Usually, the funding would be well spent, too.
handmade34
(22,758 posts)tonedevil
(3,022 posts)tetedur
(820 posts)That is all they know how to do. They can't come up with a policy to solve real problems. Every solution to any problem is give tax breaks to the rich or now, just hand over millions.
The Democrats tried to appropriate money to help people thrown out of work and the Republicans said okay we can use this money to give to our rich friends.
The rich will never have enough money. They need more. They need all of it.