Entertainment Kanye West and Jeff Koons sweeten on the backs...

Kanye West and Jeff Koons sweeten on the backs of struggling small businesses

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There are no small profits had to say the rapper and the most expensive artist in his lifetime by calling on American financial aid in the context of the Covid-19 crisis. They are not the only ones to have done so.

There is no doubt that alongside the terrible human toll, the coronavirus also leaves behind – if it is gone … – a very painful economic crisis too. With us, following confinement, the number of bankruptcies has literally exploded. Belgium is obviously not the only country to be affected in this way. Far from there.

In the United States, where the time is not yet everywhere for deconfinement, the specter of closings of companies, in particular of the smallest, has prompted the authorities to deploy a vast aid plan. Called the Paycheck Protection Program (PPP), it includes a $ 669 billion envelope that can be distributed in the form of low-interest loans to businesses in difficulty. These loans can even be turned into grants if certain conditions are met, particularly in terms of job preservation. A lifeline for the most vulnerable structures which also seems to have benefited heavyweights to the amazement of the site Bloomberg.com.

Radio silence

On July 6, the Trump administration released the list of the beneficiaries of these loans. And, surprise, some anomalies appeared, among others in the cultural field. Several of the most famous art galleries in the world have been granted loans of between 1 and 5 million dollars, while the average amount of aid hardly exceeds 100,000 dollars. These include Gagosian, David Zwirner, Pace and Hauser & Wirth to name a few. When contacted by Bloomberg.com, most declined to speak on the matter.

Jeff Koons, the most expensive living artist in history

But two names stand out. Starting with that of Jeff Koons, one of the most bankable artists on the planet. According to the list released by the American federal authorities, he received between 1 and 2 million dollars to save… 53 jobs. However, he holds the record for the most expensive work ever sold by an artist during his lifetime: more than $ 91 million for his Rabbit, namely a steel cast of an inflatable rabbit. Also contacted, he did not comment on the information either.

Kanye West the billionaire

No more than Kanye West, the other name on the list that calls out the most. Its ready-to-wear line Yeezy, benefited from 2 to 5 million dollars in aid for the preservation of… 106 jobs. However, the rapper, who has just declared himself a candidate in the presidential election next November – unless it is a joke again – is anything but penniless. Last April, he invited himself into the very closed circle of billionaires according to the ranking of Forbes who so far denied him this “honor”. His fortune is estimated at $ 1.3 billion. A quick tour on the site yeezymafia.com which offers articles of the brand of Kanye West speaks volumes. There are pairs of sneakers over 200 dollars! Not to mention the juicy contracts recently signed with Adidas and Gap, in particular.

If by chance the rapper’s candidacy for the White House was real, it’s a safe bet that the information revealed by Bloomberg.com is not the best entry into the campaign.

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