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.
- West’s sneaker company reportedly made $1.5 billion last year.
- Both he and his wife, Kim Kardashian, are reported to be billionaires.
- PPP loans, are for companies with fewer than 500 employees.
Kim Kardashian West sitting at Trump’s desk, doing what else, but taking a selfie.