LOS ANGELES, CALIFORNIA: Several musicians, including Chris Brown, Post Malone, Lil Wayne, Common, Nickelback, Usher and Steve Aoki, have reportedly received a total of $200M in Covid relief, as per Insider.
According to the investigative report, the grant was sanctioned as part of Small Business Administration's Shuttered Venue Operators Grant, which provided assistance for venues effected by Covid.
As per Insider's report, many of the mentioned artistes own or may have owned corporations that could qualify for such grants, which were aids from the government and not loans.
However, the aim of the Shuttered Venue Operators Grants, which distributed around $16B in Covid-19 pandemic relief as part of Congress' "Save Our Stages" campaign, was to assist independent venues, the outlet noted.
What is the Shuttered Venue Operators Grant?
The Shuttered Venue Operators Grant (SVOG) is an aid that "provides emergency assistance for eligible venues affected by COVID-19," as per the official website.
As per Insider, the grant was administered by the Small Business Administration (SBA) to provide aid to live-entertainment business such as performing-arts venues, movie theaters, ballets, operas, museums and talent agents.
The outlet noted that unlike the Paycheck Protection Program, SVOG was a grant instead of being a loan and qualified applicants were eligible for up to $10M aid without any repayment obligation.
According to the publication, SVOG was marketed as an aid created to support behind-the-scenes workers at Indie venues and small stages.
Senator Chuck Schumer, who sponsored the "Save Our Stages" bill, allegedly told his constituents that the money sanctioned in the grant would be used for "independent live venue operators, independent movie theaters, and cultural institutions such as live performing arts organizations and museums."
An SBA spokesperson previously said that the SVOG "helped save thousands of entertainment venues and operators across the country during the COVID-19 pandemic."
"Nearly half the grant money went to businesses with fewer than five full-time employees, 'the smallest of small businesses,'" the spokesperson added. However, as per Insider, the program also allowed some of the biggest names in the music industry to get a huge amount of pandemic relief.
What is Post Malone's net worth?
Malone, aka Austin Richard Post, is an American rapper, singer, songwriter, record producer and musician. According to Celebrity Net Worth, he has an approximate net worth of $45M.
How much did Post Malone receive in Covid grant?
As per the Insider investigation, Post bought a 9,000sqft ski chalet in Park City, Utah, in cash, back in early 2021 when several of his industry colleagues were economically struggling due to the effects of Covid.
The property has reportedly been listed for $11.5M. By May 2021, he also bought an industrial space in a Salt Lake City suburb that had been listed for $1.45M.
However, later that same year, a corporation controlled by Post allegedly applied for a successful $10M grant from a taxpayer-funded federal program which aimed to provide "emergency assistance" to provide help to struggling arts groups recover from the pandemic.
What is Chris Brown's net worth?
Brown is an American rapper, singer, songwriter, actor and dancer. He reportedly has an approximate net worth of $50M, as per Celebrity Net Worth.
How much did Chris Brown receive in Covid grant?
According to Insider's investigation, Brown also allegedly received $10M from the SVOG.
What is Steve Aoki's net worth?
Aoki is an American DJ and music producer. Back in 2012, Pollstar dubbed him the highest-grossing electronic dance music artiste in North America from tours. According to Celebrity Net Worth, Aoki has a whopping $120M net worth.
How much did Steve Aoki receive in Covid grant?
As per Insider, Aoki reportedly received $9.9M from the SVOG. As mentioned by the SBA spokesperson, half of the grant money "went to businesses with fewer than five full-time employees."
The outlet notted that Aoki's corporation, DJ Kid Millionaire Touring Inc, reportedly fit the category as it allegedly had four full-time employees as per an application for a $71,000 Paycheck Protection Program loan.
What is Lil Wayne's net worth?
Wayne is considered one of the most influential Hip-Hop artistes of all time. He has an approximate net worth of $170M, as per Celebrity Net Worth.
How much did Lil Wayne receive in Covid grant?
Wayne allegedly received $8.9M from the SVOG, as per Insider's investigation.
What is Usher's net worth?
Usher is a prominent R&B singer-songwriter and recording artiste. According to Celebrity Net Worth, he has an approximate net worth of $180M.
How much did Usher receive in Covid grant?
As per Insider, Usher received approximately $3.3M from the Shuttered Venue Operators Grant.
What is Common's net worth?
Common, whose real name is Lonnie Rashid Lynn, is a rapper, singer and activist. As per Celebrity Net Worth, he has an approximate net worth of $45M.
How much did Common receive in Covid grant?
Insider's investigation alleged that Common received $2.8M from the Covid relief grant.
Did Shuttered Venue Operators Grant break any laws by paying prominent artistes?
Although the legislation for Shuttered Venue Operators Grant was targeted at "live performing arts organization operators," a representative from SBA confirmed to Insider that artistes were included within its scope.
No indication has been made that payments granted to the artistes, including millionaires, broke any law. Sources told the publication that many artistes often have hundreds of sound and lighting technicians, security personnel, costumers, drivers, security personnel, and other employees on contract during tours.
It is also possible that artistes who applied for grants used the money to help all such contractors who were out of work during the lockdowns. However, there was reportedly no requirement for them to spend the money that way, Insider noted.
It remains unclear which artistes applied for grants themselves and who applied via a third party. As per Insider's report, "A single financial-management firm in Los Angeles successfully submitted grants on behalf of 97 artists, venues, and managers."
The investigation also found that the firm amounted to "more than a quarter of a billion dollars in grant payouts" including "more than $200 million for big-name artists alone."
