Companies of wealthy celebrities received millions of dollars in government-funded Paycheck Protection Program (PPP) loans, meant to help small businesses during the COVID-19 pandemic, and in most cases, the loans were not paid back.
House Speaker Nancy Pelosi’s husband Paul Pelosi EDI Associates took out two loans, worth more than $1.7 million in total, which were both forgiven, including interest.
The Good American jean company of Khloe Kardashian, a member of the Kardashian-Jenner dynasty whose net worth is estimated by South China Morning Post to be about $50 million, received a roughly $1.25 million PPP loan, Pro Publica shows. The loan, including interest, has been forgiven.
Tom Brady’sTB12 health food company received a PPP loan worth more than $960,000 that has been forgiven.