Jared Kushner, Devin Nunes, and Kanye West all received millions in PPP loans
While the Daily Beast reported that business controlled by the likes of Jared Kushner and Devin Nunes received millions in taxpayer funded loans, it wasn't only Trump loyalists in Washington that received paydays.
All of this while small business continue to struggle to get approved for loans.
The Treasury Department just released the name of everyone who received a loan greater than $150,000 through the PPP. With the release of this list, it is no wonder why this Administration wanted to try and keep this information secret.
Records show $350,000 to $1 million went to Observer Holdings LLC, the parent entity of Observer Media—the publishing company formerly owned by White House Senior Adviser Jared Kushner. Kushner resigned from the news organization before decamping to Washington, D.C. in 2017, but it has remained in the family: Joseph Meyer, wedded to Kushner’s sister, Nicole, lists it among the holdings of his Observer Capital investment firm. The federal assistance preserved 41 jobs, according to the SBA.
Rep. Devin Nunes (R-CA), in his most recent financial disclosure filing, reported owning between $50,000 and $100,000 in equity in a California winery, Phase 2 Cellars. That winery received a PPP loan worth between $1 million and $2 million.
Fox News host Tucker Carlson, previously part owner of the Daily Caller, received as much as $1 million. Carlson sold his stake in the company on June 10.
A shipping company business owned by Department of Transportation Secretary Elaine Chao's family received at least $350,000 in loans, according to Newsweek. Elaine Chao is married to Senate Majority leader Mitch McConnell.
However, it wasn't just Republican elite that benefited. Records also showed that other beneficiaries were former Secretary of State Madeleine Albright's high-powered consulting firm, a political strategy firm linked to two alumni of the Obama White House, and Sidwell Friends School, where both Obama children graduated high school, which got between $5 million and $10 million.
It was also reported by the Daily Beast that Kanye West's company Yeezy LLC, which lists West as the manager, received a loan worth between $2 million and $5 million. West’s Yeezy sneaker empire reportedly made $1.5 billion last year.
Several Washington lobbying firms also received million dollar handouts, according to The Hill.
APCO WorldWide, a lobbying firm, received more than $5 million in loans. The company was hired by five clients in 2020, totaling $40,000. Clients included the Church of Jesus Christ Latter-day Saints and China Ocean Shipping Co., according to data from the Center for Responsive Politics.
Law and lobbying firm Wiley Rein also received at least $5 million. It was hired by 16 clients in 2020, totaling $660,000. Clients include the National Association of Broadcasters, AT&T, Fox Corp. and Verizon.
The American College of Cardiology Foundation received more than $5 million in loans. The lobbying arm of the organization has spent $500,000 in lobbying expenditures, with 11 in-house lobbyists on retainer, so far this year.