Kanye West may be worth a billion dollars, but that did not stop him from receiving a $2 million PPP loan during the pandemic shutdown.
According to a released report Thursday by the U.S. Treasury’s Small Business Administration, the multi-million dollar payout was part of the federal stimulus package payout.
Many smaller businesses were unable to receive a PPP loan because the Trump administration chose to payout to large corporations who could have survived the shutdown.
The Daily Beast reports that Yeezy LLC 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 and that 160 jobs were saved using the loan.
Yeezy reportedly made $1.5 billion last year.
Just week last week, it was announced that his wife, Kim Kardashian, had also become a billionaire after closing a deal with beauty brand, COTY Inc.