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RandySF

(59,168 posts) Mon Jul 6, 2020, 05:38 PM Jul 2020

Billionaire Kanye West's Company Gets Multimillion-Dollar PPP Loan From Trump Admin

Billionaire rapper and shoe designer Kanye West’s company has received a multimillion-dollar loan as part of the federal government’s coronavirus stimulus package, according to records released Thursday by the U.S. Treasury’s Small Business Administration.

The money was handed out in the latest round of the Paycheck Protection Program, part of the Trump administration’s $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 Treasury’s 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. West’s 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

7 replies

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Billionaire Kanye West's Company Gets Multimillion-Dollar PPP Loan From Trump Admin (Original Post) RandySF Jul 2020 OP

And this guy wants to be president ace3csusm Jul 2020 #1

Am I the only one who remembers when the GOP didn't like lindysalsagal Jul 2020 #2

They hate welfare, except corporate welfare soothsayer Jul 2020 #4

That only seems to be an issue when Democrats want to fund things pandr32 Jul 2020 #5

F@k Kanye handmade34 Jul 2020 #3

Snoop is always pretty blunt /nt tonedevil Jul 2020 #7

Republicans use tax payer dollars to make the rich richer. That is the purpose of government. tetedur Jul 2020 #6

ace3csusm

(969 posts)

1. And this guy wants to be president

Reply to RandySF (Original post)

Mon Jul 6, 2020, 05:45 PM

Jul 2020

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

(20,727 posts)

2. Am I the only one who remembers when the GOP didn't like

Reply to RandySF (Original post)

Mon Jul 6, 2020, 05:46 PM

Jul 2020

Wasteful spending?

soothsayer

(38,601 posts)

4. They hate welfare, except corporate welfare

Reply to lindysalsagal (Reply #2)

Mon Jul 6, 2020, 05:52 PM

Jul 2020

pandr32

(11,605 posts)

5. That only seems to be an issue when Democrats want to fund things

Reply to lindysalsagal (Reply #2)

Mon Jul 6, 2020, 05:53 PM

Jul 2020

Usually, the funding would be well spent, too.

handmade34

(22,757 posts)

3. F@k Kanye

Reply to RandySF (Original post)

Mon Jul 6, 2020, 05:50 PM

Jul 2020

tonedevil

(3,022 posts)

7. Snoop is always pretty blunt /nt

Reply to handmade34 (Reply #3)

Mon Jul 6, 2020, 06:01 PM

Jul 2020

tetedur

(820 posts)

6. Republicans use tax payer dollars to make the rich richer. That is the purpose of government.

Reply to RandySF (Original post)

Mon Jul 6, 2020, 05:55 PM

Jul 2020

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.

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