{"id":486708,"date":"2022-08-21T20:54:55","date_gmt":"2022-08-21T17:54:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jay-z-kanye-west-diddys-multi-million-dollar-ppp-loans-reportedly-forgiven\/"},"modified":"2022-08-21T20:54:55","modified_gmt":"2022-08-21T17:54:55","slug":"jay-z-kanye-west-diddys-multi-million-dollar-ppp-loans-reportedly-forgiven","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jay-z-kanye-west-diddys-multi-million-dollar-ppp-loans-reportedly-forgiven\/","title":{"rendered":"#JAY-Z, Kanye West &amp; Diddy&#039;s Multi-Million Dollar PPP Loans Reportedly Forgiven"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f984538929\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f984538929\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/jay-z-kanye-west-diddys-multi-million-dollar-ppp-loans-reportedly-forgiven\/#%E2%80%9CJAY-Z_Kanye_West_Diddys_Multi-Million_Dollar_PPP_Loans_Reportedly_Forgiven%E2%80%9D\" >&#8220;JAY-Z, Kanye West &amp; Diddy&#039;s Multi-Million Dollar PPP Loans Reportedly Forgiven&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CJAY-Z_Kanye_West_Diddys_Multi-Million_Dollar_PPP_Loans_Reportedly_Forgiven%E2%80%9D\"><\/span>&#8220;JAY-Z, Kanye West &amp; Diddy&#039;s Multi-Million Dollar PPP Loans Reportedly Forgiven&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"image large\">\n<img decoding=\"async\" src=\"https:\/\/static.hiphopdx.com\/2022\/08\/220821-jay-z-kanye-west-diddy-getty-1200x675.jpg\" alt=\"JAY-Z, Kanye West &amp; Diddy's Multi-Million Dollar PPP Loans Reportedly Forgiven\" class=\"large\"><\/p>\n<div class=\"news-caption\">\n<span>Robert Kamau\/GC Images, GC Images\/GC Images, MEGA\/GC Images<\/span>\n<\/div>\n<\/div>\n<p><\/p>\n<div class=\"body-copy  js-entry-text\" itemprop=\"articleBody\">\nJAY-Z, Kanye West and Diddy count themselves among Hip Hop\u2019s wealthiest individuals, and they can now also consider themselves among several celebrities who won\u2019t have to pay back the federal government over Paycheck Protection Program loans.<\/p>\n<p>According to <em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/news\/article-11113221\/Wealthy-Khloe-Kardashian-Reese-Witherspoon-got-millions-PPP-loans-didnt-pay-back.html\">The Daily Mail<\/a><\/em>, the trio took out a total of $6.3 million in PPP loans to help secure 335 jobs amongst their various companies. Diddy borrowed $1,929,252 for his Revolt <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> company, Ye borrowed $2,363,585 for his Yeezy LLC company, while Hov took out a combined $2,399,517 for two companies, Tidal and Armand De Brignac Holdings. Per <em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/projects.propublica.org\/coronavirus\/bailouts\/\">ProPublica<\/a><\/em>, Yeezy\u2019s loan status is \u201cnot disclosed\u201d despite the Yeezy sneaker line increasing in profits during the pandemic, from $1.3 billion in 2020 to $1.7 billion in 2021, an increase of 31 percent.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Multiple celebs including Kanye West, Diddy, Jay-Z &amp; Tom Brady granted loan forgiveness after receiving millions in PPP loans <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/CW5OkaBXAn\">pic.twitter.com\/CW5OkaBXAn<\/a><\/p>\n<p>\u2014 SAY CHEESE! \ud83d\udc44\ud83e\uddc0 (@SaycheeseDGTL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SaycheeseDGTL\/status\/1560653795784540160?ref_src=twsrc%5Etfw\">August 19, 2022<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/covid-19-relief-options\/paycheck-protection-program\">Paycheck Protection Program was offered for small businesses<\/a> and companies to help keep employees afloat during the height of the COVID-19 pandemic. The program ended on May 31, 2021, and existing borrowers are eligible for the loan forgiveness program as the economy has slowly begun shifting back toward pre-pandemic levels.<\/p>\n<p>Not everyone who took out a PPP loan were given the chance to be granted forgiveness. Several individuals, including Mo Fayne of <em>Love &amp; Hip Hop<\/em> fame and Baby Blue of Pretty Ricky were handed down prison sentences for fraud relating to misuse of PPP loans.<\/p>\n<p>Fayne was sentenced to over 17 years behind bars for running a multi-million dollar ponzi scheme, bank fraud and wire fraud. The\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.justice.gov\/usao-ndga\/pr\/reality-tv-star-sentenced-ppp-fraud-and-operating-multimillion-dollar-ponzi-scheme\">U.S. Attorney\u2019s Office in the Nothern District of Georgia said\u00a0<\/a>Fayne submitted a $3.7 million PPP loan <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication to United Community Bank in April 2020 to assist with his trucking company. However, the federal government concluded Fayne had improperly used the money given to him through the loan program, buying custom jewelry, paying back child support, leasing a new Rolls-Royce and more.<\/p>\n<\/div>\n<p><\/p>\n<div class=\"author\" itemprop=\"author\" itemscope itemtype=\"http:\/\/schema.org\/Person\">\n<meta itemprop=\"name\" content=\"Brandon Caldwell\"><br \/>\nby Brandon Caldwell\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/hiphopdx.com\/news\/id.72757\/title.jay-z-kanye-west-diddy-ppp-loans-forgiven\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;JAY-Z, Kanye West &amp; Diddy&#039;s Multi-Million Dollar PPP Loans Reportedly Forgiven&#8221; Robert Kamau\/GC Images, GC Images\/GC Images, MEGA\/GC Images JAY-Z, Kanye West and Diddy count themselves among Hip Hop\u2019s wealthiest individuals, and they can now also consider themselves among several celebrities who won\u2019t have to pay back the federal government over Paycheck Protection Program loans&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":486709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/static.hiphopdx.com\/2022\/08\/220821-jay-z-kanye-west-diddy-getty-1200x675.jpg","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-486708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/486708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=486708"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/486708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/486709"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=486708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=486708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=486708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}