Kanye West, Tom Brady, Jared Kushner and others had their Payment Protection Program loans forgiven. But celebrity or not, pretty much everyone has had their loans forgiven. Of the $793 billion approved for 11.5 million loans, $742 billion was forgiven.
Earlier this week the Daily Mail reported that the rich and famous including Kanye West, Tom Brady, Jared Kushner and House Speaker Nancy Pelosi’s husband had their Payment Protection Program loans forgiven. Other high-profile recipients including Khloe Kardashian, Jeff Koons and Reese Witherspoon also had their loans forgiven.Celebrity or not, pretty much everyone has had their loans forgiven. Of the $793 billion approved for 11.
That said, the PPP program — though scattershot and rife with fraud — at least contributed to its main objective, which was to keep Americans employed through the COVID-19 pandemic. An extensive study found PPP ended up sending loans to 93% of small businesses in just two months. That study found it preserved what it called 3 million “job years” of employment.
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