Middle class working (and ‘retired’) Americans are now feeling the inflationary after-effects of the last two big rounds of Federal Reserve and U.S. Treasury fiscal and monetary interventions.
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Daily Mail EXCLUSIVE: It pays to be rich! 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
- Celebrities including Kanye West, Jay-Z and Khloe Kardashian received millions in government PPP (Payment Protection Program) loans, set up for desperate businesses hit by the Covid pandemic
- DailyMail.com can now reveal the exact amounts that these millionaires took out via the government program
- Kanye West’s Yeezy LLC borrowed $2,363,585, with $1,772,689 being spent on payroll for 106 staff
- Khloe Kardashian’s denim brand Good American LLC had a loan of $1,245,405 approved on April 14, 2020, mostly for the payroll of 57 workers. The full amount, plus interest, was forgiven
- In most cases, the loans have been ‘forgiven’ so the full amount, including interest, will not have to be repaid, despite the owners’ wealth
By Chris White For Dailymail.com
Published: 09:29 EDT, 17 August 2022 | Updated: 11:40 EDT, 17 August 2022
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.
The loan program cost US taxpayers $953billion, with the University of Texas estimating that 15 percent of PPP claims – around $76billion – were fraudulent.
It was claimed that after the first round of PPP loans, up to 90 percent of ethnic minority business owners were unsuccessful at getting the loan and were at the ‘end of a line’, according to an Associated Press survey, which showed a disproportionate amount of white people in rich areas being approved for a loan.
Yet celebs and their businesses had no problems.
Kanye West’s Yeezy LLC, based in La Palma, California, borrowed $2,363,585, with $1,772,689 being spent on payroll for 106 staff
Jay-Z is associated to two firms approved for a loan two years ago. Malibu Entertainment is linked to his streaming platform Tidal and took $2,106,398 to secure 95 jobs and was let off of repaying the full amount
DailyMail.com can now reveal the exact amounts that these millionaires – and some billionaires – took out via the government program
Kanye West’s Yeezy LLC, based in La Palma, California, borrowed $2,363,585, with $1,772,689 being spent on payroll for 106 staff.
Khloe Kardashian’s denim brand Good American LLC had a loan of $1,245,405 approved on April 14, 2020, mostly for the payroll of 57 workers. The full amount, plus interest, was forgiven
ProPublica, which has published the amount and status of every federal loan, states that Yeezy’s loan status is ‘not disclosed.’
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Wall Street banks and their ultra wealthy principles made out handsomely during the great financial crisis (2008-2010) – with massive Federal Reserve liquidity infusions.
They hit the jackpot again with additional
They were ‘indirect beneficiaries’ during the Covid Crisis (2021-2022) as the Fed activates “massive broad-based fiscal and monetary interventions—including corporate debt purchases and the structure of the PPP—indirectly protected large financial institutions and asset markets by ensuring borrowers could service their debt, shielding Wall Street from severe asset devaluations.”
At the same time (2021-2022), mega-rich celebrities also struck gold.
And now it is time to rebalance the ‘monetary intervention’ books – this time in favor of Main Street America’s hard-working, tax-paying U.S. citizens…
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$95,000 per U.S. citizen – Leviticus 25 Plan 2027 (66265 downloads )