Kanye West reportedly received $2 million from the United States Federal Paycheck Protection Program.
The Small Business Administration’s Paycheck Protection Program disclosed Yeezy LLC reportedly saved 160 jobs thanks to the lion, which received between $2 million to $5 million.
The Paycheck Protection Program was created this year in response to the Coronavirus. The program was designed to help small businesses to continue paying their employees during the pandemic. The Paycheck Protection Program let most companies with 500 employees and less apply for loans to cover the cost of eight weeks of payroll.
This news comes after Kanye West officially announces 2020 run for President. Kanye is running for President of the United States. Taking to Twitter, Kanye celebrated the holiday weekend by officially announcing his bid to become the President of the United States. “We must now realize the promise of America by trusting God, unifying our vision, and building our future. I am running for president of the United States! Finishing off his message with an American flag emoji and the hashtag #2020VISION.
In addition, Kanye West’s YEEZY Partnership with Gap stock caused a 42% jump. The American fashion company saw a stock jump as a direct result of Kanye’s YEEZY announcement.
News of “YEEZY GAP” caused a sudden stock price jump, which added more than $1 billion to Gap’s stock market valuation, lifting it to around $4.8 billion. That said, despite the deal with Kanye, Gap stock is still down more than 20%.
The 10-year partnership will see Kanye design a line of affordable clothing to be sold online and at physical locations. The Gap is hoping Kanye will generate $1 billion in annual says over the course of five years. The fashion company also said the rapper will receive royalties and possible equity for the sales of YEEZY Gap.
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