Yeezy brand, which is one of Kanye West’s companies has benefited from the U.S government’s Paycheck Protection Program (PPP), that has been designed to support small businesses affected by the Coronavirus pandemic.
Kanye’s clothing and sneaker brand, Yeezy, received a loan from the federal government’s pandemic rescue fund, according to CBS News.
Kanye, who achieved the billionaire feat earlier this year, was granted a government loan between $2 million and $5 million for his brand, according to data released by the U.S. Treasury Department. The funds helped the company save 106 jobs.
The revelation comes after leading Democrats requested transparency from the government about which companies received these loans. According to Complex, the Small Business Administration (SBA) revealed the list of companies that had applied for and then received the loans.
Kanye went past Jay-Z as Forbes’ highest-paid hip-hop artiste I’m 2019, with its bulk success attributed to his partnership with Adidas. The rap star had recently announced a 10-year partnership deal with Gap, and released new music with Travis Scott titled “Wash Us In The Blood” in anticipation of a new album called God’s Country.
West donated $ 2 million to the families of police killing victim George Floyd and Breonna Taylor as well as racial profile victim Ahmaud Arbery. He has also contributed to helping families affected by the COVID-19 pandemic by helping Chick-fil-A provide over 300,000 meals for L.A. families.
