List of Paycheck Protection Program recipients released, includes Girl Scouts, Kanye West, billionaire governor's family firms
On Monday the federal government released the names of businesses and nonprofits who had applied for a forgivable loan of $150,000 or more in order to decrease layoffs; those receiving this amount make up less than 15% of the overall $520 billion program that saw participation from almost 5 million businesses. Included in this small group are nearly 600 asset management companies and private equity firms; family firms for West Virginia's billionaire governor Jim Justice; clothing companies owned by Reese Witherspoon, Khloe Kardashian, and Kanye West; Rich Dad Operating Co. (affiliated with the Rich Dad, Poor Dad series of books); Road Dog Touring, Inc., owned by Tim McGraw and Faith Hill; and sculptor Jeff Koons's studio, whose "Rabbit" sculpture sold for $91 million last year. Also on the list were the Girl Scouts, as well as two political groups, the Americans for Tax Reform Foundation and the Center for Law and Social Policy. Although the program is meant for small businesses, large restaurant chains such as TGI Fridays and P.F. Chang's China Bistro also received loans. The Associated Press is filing a law suit aiming to release the other names on the list.
See "List of Paycheck Protection Program recipients released, includes Girl Scouts, Kanye West, billionaire governor's family firms", Christopher Rugabar, Associated Press, July 8, 2020