Jay-z, Kanye West & Diddy’s Multi-million Dollar Ppp Loans Reportedly Forgiven

-

JAY Z, Kanye West and Diddy are among the most wealthy Hip Hop artists They can also be among the many celebrities who will not have to pay the federal government on Paycheck Protection Program loans.

In the report by the Daily Mail, the three received the sum of $6.3 million in PPP loans to create 335 jobs for their different businesses. Diddy took out $1,929,252 to fund the Revolt Media company, while Revolt Media company, Ye took out $2,363,585 for the Yeezy LLC company, while Hov has taken out a total of $2,399,517 to two companies, Tidal and Armand De Brignac Holdings. According to ProPublica the loan status of Yeezy has been declared “not disclosed” despite the Yeezy sneakers increasing in profits during the pandemic between $1.3 billion at the end of 2020 and $1.7 billion by 2021 which is an increase of 31 percent.

This Paycheck Protection program was made available to small-sized firms as well as companies to keep employees on the right track in the midst of COVID-19’s pandemic. The program was ended in May of 2021 and existing borrowers can be eligible to take advantage of this program of loan repayment since the economy is slowly moving back to the pre-pandemic level.

Not all who was able to take out a PPP loan had the chance to get the opportunity to get forgiveness. Many individuals, such as Mo Fayne of Love & Hip Hop fame and Baby Blue of Pretty Ricky received prison sentences for fraud related to the abuse in the use of PPP loans.

Fayne has been sentenced nearly 17 years in jail for operating a multi-million dollar Ponzi scam, fraud at banks, and wire fraud. The U.S. Attorney’s Office in the Nothern District of Georgia announced that Fayne submitted an $3.7 million loan application through the PPP program with United Community Bank in April 2020 in order to help with his trucking business. But, the federal government concluded that Fayne was not using the funds he received by the loan program to purchase custom-made jewelry and repaid children’s child care, leasing a brand new Rolls-Royce and much more.

FILED UNDER: KANYE WEST, Rap Hip Hop Shirt

CATEGORIES: Hip-hop News, Rap Hip-hop Artist

https://musicdope80s.com/?post_type=product&p=83540&preview=true
https://musicdope80s.com/?post_type=product&p=83541&preview=true
https://musicdope80s.com/product/psycho-las-vegas-2022-black-tshirt/
https://musicdope80s.com/product/psycho-las-vegas-finalize-2022-lineup-unisex-tshirt/
https://musicdope80s.com/product/my-chemical-romance-21st-anniversary-2001-2022-thank-you-for-the-memories-t-shirt/
https://musicdope80s.com/product/my-chemical-romance-19th-anniversary-signatures-black-for-man-t-shirt/
https://musicdope80s.com/?post_type=product&p=83661&preview=true
https://musicdope80s.com/?post_type=product&p=83666&preview=true
https://musicdope80s.com/?post_type=product&p=83680&preview=true
https://musicdope80s.com/?post_type=product&p=83681&preview=true
https://musicdope80s.com/?post_type=product&p=83682&preview=true
https://musicdope80s.com/?post_type=product&p=83683&preview=true
https://musicdope80s.com/product/wu-tang-clan-custom-name-logo-australia-unisex-t-shirt/
https://brutifulstore.com/?post_type=product&p=76351&preview=true

The post Jay-z, Kanye West & Diddy’s Multi-million Dollar Ppp Loans Reportedly Forgiven appeared first on Musicdope90s.com.

https://ift.tt/jJCtno3

Comments

Post a Comment

Popular posts from this blog

Nicki Minaj Opens Up About Childhood Trauma: ‘I’m Afraid That My Son Will Feel That’

-
Image
In a lengthy new interview with Jada Pinkett Smith, Nicki Minaj discussed her traumatic early years. Jada begins the extensive Q&A for Interview Magazine by congratulating Nicki on becoming a mother. In 2020, the rapper from the Pinkprint and her spouse Kenneth Petty welcomed their first child. Nicki stated, “I see myself in my son as a newborn and because of that, it reminds me of moments that I had probably forgotten over time, just of me being a toddler in Trinidad.” “Being a mother is the biggest freaking blessing on planet Earth, first and foremost. I’m overjoyed that God made this possible for me. I don’t know if it’s typical, but it seems unhealthy because I waited too long to start working and leaving him in anyone’s care, so now I have this really awful separation anxiety, she added. That’s undesirable. She claimed that due of how worried she grew about her son’s health during COVID, having a newborn was difficult. She continued by saying that her kid, who is soon ...
Read more

Ms. Hustle Drops New Single Co-Signed By Snoop Dogg

-
Image
Ms. Hustle’s “Let’s Get It” is a sample of “ Chicken Noodle Soup ” and is a tribute to Bianca Bonnie, aka Young B and has a an endorsement from Snoop Dogg . Ms. Hustle isn’t content being one of the most talented female battle rappers ever to enter the ring. She is now is aiming to conquer the music business. The Harlem native who is dubbed “ First Lady of URL ,” is a step closer to her goal with the debut of her new song, “Let’s Get It.” The track also features an excerpt from DJ Webster and Young B’s 2006 hit song, ”  Chicken Noodle Soup .” Ms. Hustle spoke specifically for AllHipHop.com that the song was born due to her desire to represent Harlem and her female rappers who been performing for Harlem. Also, she wanted to include an anthem that “embodies” the most talented female rappers in the region and immediately brought back the Harlem iconic, “Chicken Noodle Soup.” After Hustle released the track She knew she needed to work with the artist ...
Read more

The Huge Dodgers Deal Which Aaron Judge Turned Down

-
Image
It seems that the Hot Stove season is beginning to be the hot season it is advertised to be and Aaron Judge’s free agency set to come with a solution in the next few days. Particularly Judge had a meeting with the San Francisco Giants this past Tuesday, and discussions between the two sides have been reported to be ” productive”. However, Giants fans aren’t the only ones who have been impacted. Los Angeles Dodgers, with their unlimitless resources, want to stay ahead of their divisional rivals. They have been putting forth a huge effort in the direction of an oversized slugger of 6’7 inches. It is reported that the Dodgers have reported that they offered Judge an agreement valued at $214 million, as per Hector Gomez , which the 30-year-old outfielder reportedly turned down. It’s not known how long the Dodgers offer Judge however, given the fact that they made an offer that was lower than expected it’s not surprising that LA provided him w...
Read more