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Yahoo Tech - Apple MacJul 06, 2020
Billionaire Kanye West's Company Gets Multimillion-Dollar PPP Loan From Trump Admin
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.Trump's Small Biz Rescue Bailed Out Kushner's Family, Obama's Aides and Other Political EliteCalifornia business records list Kanye West as the manager of Yeezy LLC, a holding company established in Delaware and run out of a La Palma, California, office. West's Yeezy sneaker empire reportedly made $1.5 billion last year.West's loan poses major questions of conflict of interest, given West's outspoken support for President Donald Trump, his multiple visits to the White House, and the outrageously lavish lifestyle he leads with wife Kim Kardashian West. Both he and his wife have celebrated attaining billionaire status recently. After being effectively broke years ago, West turned his fortunes around with his best-selling Yeezy sneakers a
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