Kanye West’s YEEZY fashion brand reportedly received millions of dollars in loans from through the CARES Act, a stimulus implemented by the Trump administration to help businesses during the COVID-19 pandemic.
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According to PEOPLE, the U.S. Treasury’s Small Business Administration released records revealing a list of businesses that received loans through the Paycheck Protection Program. The list was released publically after the SBA faced pressure to disclose the businesses. The documents revealed West’s YEEZY LLC received a loan between $2 to $5 million from the City National Bank and it helped 106 people keep their jobs. Khloe Kardashian’s brand Good American also filed for loans and expected to receive $1.2 million.
This reveal comes two days after Kanye West announced he will be running for president of the United States.
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Back in April, Kanye West earned his status as a billionaire after his assets were calculated by Forbes. He is reportedly worth $1.3 billion and uses his real estate knowledge to build shelters in different parts of the world.
YZY SHLTRS in process #2020VISION pic.twitter.com/dWGiYZIEJY
— ye (@kanyewest) July 5, 2020