America's wealthiest, including Tom Brady, Khloe Kardashian, Reese Witherspoon, Kanye and Nancy Pelosi's husband took millions in PPP loans and nearly all have been forgiven The companies of mega-rich celebrities, including billionaires Kanye West and Jay-Z, received millions in government PPP loans – and in virtually every case the A-listers have been let off the hook for paying back the full amount.
For the first time, DailyMail.com can reveal the exact amounts that these wealthy companies got through the Payment Protection Program, which was set up for desperate businesses hit by the Covid pandemic.
In all but two of the cases we examined, the company was 'forgiven' despite the star owners being multi-millionaires. The status of the others is unknown.
Poster Comment:
Unpaid loans are supposed to be treated as income and are taxable.