Millions in PPP Funds Went to Wealthy Celebrities, Musicians, Influencers
WASHINGTON, D.C. – Today, Accountable.US released a new report cataloguing several wealthy musicians, celebrities, and influencers who received loans through the Trump Small Business Administration’s (SBA) Paycheck Protection Program (PPP) while mom-and-pop businesses lost out. The list documents wealthy actors and two musical acts featured on Taylor Swift’s newly released album Evermore who snapped up small business funds as hundreds of mom-and-pop shops — especially in communities of color — were boxed out and left to fend for themselves.
“Paycheck Protection Program funds were meant to help small businesses keep the lights on and meet payroll — not to serve as a cash infusion for rich celebrities and influencers looking to further pad their pockets on the taxpayer’s dime,” said government watchdog Accountable.US President Kyle Herrig. “The Trump administration’s flawed design and implementation of the PPP let the already-wealthy run away with funds that average small business owners desperately needed. Congress must ensure that the next relief bill it passes doesn’t allow for the same mistakes.”
The affluent celebrities whose loans were revealed in the Trump administration’s recent forced PPP data dump joined the ranks of others including Tom Brady and Kanye West, who already received widespread criticism and backlash for taking small business relief funds earlier this year.
Among the numerous recipients are:
- Mark Wahlberg, who received more than $500,000 in PPP funds for his restaurant chain, Wahlburgers.
- Hip hop duo Rae Sremmurd, who received $90,595 in PPP loans for Sremm Touring, LLC.
- The Oppenheim Group, the real estate firm made famous by the Netflix reality show Selling Sunset, which received $85,660 through the PPP.
See the full report here.