Big Companies Owned by Tom Brady, Floyd Mayweather Received PPP Loans
The Paycheck Protection Program (PPP) was designed to assist small businesses in the U.S. impacted by the coronavirus pandemic.
PPP loans are forgiven if used for basic business expenses such as payroll and rent.
However, larger businesses owned by multi-millionaires took advantage of PPP loans.
Tampa Bay Buccaneers quarterback Tom Brady's Brady’s TB12 Inc. received between $350,000 and $1 million, according to NBC 10 Boston.
According to Forbes, Brady has a net worth of $180 million.
Boxer Floyd Mayweather, who earned $915 million in the last 10 years according to Forbes, is the highest-paid athlete of the last decade.
Data released yesterday by the U.S. Small Business Administration listed Mayweather Promotions applied for and was granted a loan between $350,000 and $1 million.
It is unknown is either company took the loan they were granted.