Kanye West And Jared Kushner’s Family Both Got Several Millions In Paycheck Protection Program Loans
A few days ago, apropos of nothing besides the obvious (an aggressively throbbing ego), Kanye West announced that he’s running for President of the United States this year, even though he hasn’t filed the paperwork yet. But Kanye running made perfect sense to me, considering his love for both dumb, impulsive decisions and misguided political apparel. But now it looks like Kanye has also picked up some shady business tips from his favorite president and some of his in-laws.
Yesterday, the Treasury Department and Small Business Administration disclosed the names of every business that got $150,000 or more through the Paycheck Protection Program, the Trump administration’s COVID-19 stimulus program. And wouldn’t you know it, but apparently everyone’s favorite Christian Genius Billionaire – accent on the billionaire – reportedly accepted between $2 and $5 million. And Jared Kushner, son-in-law of Trump, allegedly made sure his family nabbed between $1 and $2 million for a school connected to their charity.
This is bound to be the most infuriating news for anyone who has watched two inches of dust collect on their mailbox while waiting for that insulting little $1200 stimulus check to arrive. CNBC says that Democrats have demanded transparency regarding the PPP, and so Trump’s administration released everything. The PPP loans reportedly represent 75% of the loans that were given out in response to the coronavirus pandemic, but only about 13% of said loans were for $150,000 or higher. But still, here’s a small breakdown of some notable businesses that got money. For example, P.F. Chang’s received between $5 and $10 million in order to continue operations. TGIFridays got at least $5 million, thus ensuring that Chef Mike doesn’t lose his job. Jared Kushner can sleep at night knowing that at least a million dollars went to a Hebrew school partially bankrolled by his family.
Joseph Kushner Hebrew Academy in New Jersey, which is named after Trump’s son-in-law and advisor Jared Kushner’s grandfather, got a loan in the range of $1 million to $2 million. Jared Kushner’s parents’ family foundation supports the school.
Jared’s tax-evading father Charles Kushner is reportedly worth $1.8 billion, so you might think that if the Joseph Kushner Hebrew Academy needed some cash, they could have just called up the name on the school and said, “Hi, help?”
As for Kanye, I can’t explain the reason why Kanye, a man who loves nothing more than talking about how rich and successful he is, would apply for a multi-million dollar rescue loan for his clothing company. via People magazine:
According to the records of companies which were granted more than $150,000 in loans, Yeezy LLC., West’s high-end fashion label, received a loan between $2 to $5 million. The Treasury reports that the loan was filed through City National Bank and 106 jobs were saved through it.
People also points out that Khloe Kardashian’s denim company, Good American, also filed for a loan and got $1.2 million. Good American spoke to People and swore they needed the loan to keep the company afloat, and that Khloe hasn’t taken a paycheck since the COVID-19 pandemic hit back in March.
But it’s still all kinds of fucked up that a man as rich as Kanye, with rich (albeit, dubiously) in-laws, would have to take a government hand out of almost $5 million. Four years ago Kanye tweeted that he was $53 million in debt. Maybe he still hasn’t broken even yet, despite allegedly being the richest musician in the world? There’s got to be a reason why Kanye would pull a move like this. Selfless billionaire Kanye probably had every intention of reaching into his own pockets to shoulder the burden. But upon fingering nothing but dust and a dirty gum wrapper, he realized he was too late. Kim Kardashian got to his pockets first, and spent all his money on expensive horses.
Meet North’s Freesian horse. We have 14 gorgeous Freesians on the ranch. pic.twitter.com/TO87I25YKJ
— Kim Kardashian West (@KimKardashian) June 29, 2020