Celebrities from the U.S. entertainment industry have always been celebrated by Democrats for embodying leftist morals and virtues. Rappers like Jay-Z and actresses like Reese Witherspoon have all bashed Trump to the delight of Democrats. But what these two celebrities, and many more, have in common is that they have taken millions upon millions of dollars from funding intended to support small businesses.
The Dailymail has uncovered documents revealing several celebrities who have taken advantage of the Payment Protection Program (PPP) that began during the Covid pandemic to protect small, struggling businesses. These celebrities manage large companies that operate primarily online, meaning they were not significantly impacted by the pandemic. However, these greedy celebrities took a large chunk of the $953 billion in PPP funding for themselves.
Jay-Z has two companies, Malibu Entertainment and Tidal, for which he received $2,106,398 in tax payer money to support his 95 employees. Rather than support his employees with his $1.3 billion net worth, Jay-Z preferred to use the dollars of hard-working Americans. Even worse, it seems like Jay-Z has had these loans forgiven by the U.S. government and won’t have to pay a dime.
Similarly, Reese Witherspoon, with a net worth of $400 million, secured $975,472 in PPP loans, all of which were forgiven. This taxpayer money was used to fund the payroll and rent for her company Draper James LLC.
The Payment Protection Program was intended to support small businesses facing a serious decline in profits as the United States shut down its economy and Democrat lockdowns began. With so few customers walking through the door, businesses could barely afford to pay their employees. Even when the Payment Protection Program began, legitimate small businesses rarely secured government funding.
At the start of the pandemic, approximately 90% of small businesses owned by ethnic minorities were denied PPP loans. While the Democratic celebrity class claims to care about minorities and those suffering economically, they had nothing to say about how the Payment Protection Program failed to support legitimately small businesses. That’s because they were raking in millions from the program’s loans, which somehow always seemed to be forgiven.
American celebrities from various entertainment arenas cut large chunks off from the Payment Protection Program for themselves. Jeff Koons, America’s richest artist with a net worth of $200 million, received $1,091,200 in PPP loans, all of which were forgiven. Khloe Kardashian with a net worth of $60 million received a $1,245,405 loan for her denim brand Good American LLC. Khloe’s loan and the interest on it was forgiven.
While it is certainly gross for America’s wealthiest celebrities to benefit from a program designed to support struggling businesses, it’s even more disgusting when millionaire “public servants” do the same.
It should come as no surprise to readers of the Conservative Business Journal that the Pelosi family also took millions from the PPP program. House Speaker Nancy Pelosi’s husband, Paul Pelosi, received $1,709,100 to supposedly fund the salaries of his 52 employees. Of course, all of Paul Pelosi’s PPP loans were forgiven despite his $120 million net worth.
The government is certainly warranted in supporting small businesses during a pandemic in which consumers were told to stay home and warned about the dangers of in-person activities. However, with a government as corrupt as our own, programs designed to help struggling businesses somehow ended up primarily supporting celebrity millionaires.
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