If you want further proof that this permanent A+ list rapper and the permanent A list singer are barely even friends and only get together to take pictures, the singer wants to help small businesses get financial help during COVID while her husband received millions of dollars for his ponzi scheme of a streaming service.
Beyoncé launches grants for Black-owned businesses with BeyGOOD foundation
Beyoncé has launched a new fund to give Black-owned businesses grants through her BeyGOOD foundation.
The fund has been started in collaboration with the National Association For The Advancement Of Colored People (NAACP).
The Black-Owned Small Business Impact Fund will provide grants of $10,000 (£7,923) for business owners “in select cities to help sustain business during this time”.
“Over the last couple of months, the pandemic and outpours for justice throughout the Black community and across the country has been felt in every imaginable area of our lives, including in how our local businesses continue to operate,” a statement on the NAACP site read. – Source
Company Connected to Jay-Z’s Tidal Streaming Service Took Millions in PPP Loans (EXCLUSIVE)
UPDATED: Malibu Entertainment, a company connected to Jay-Z’s Tidal streaming service, was among the businesses applying for and accepting Paycheck Protection Program loans for between $2 million and $5 million, according to documents released by the Small Business Administration and Treasury Department; a source close to the situation tells Variety the loan was for $2.1 million. The loans are part of the federal government’s $2 trillion CARES act to assist small businesses impacted by the coronavirus.
The loan was approved on April 7, shortly after Tidal and Roc Nation, Jay-Z’s entertainment joint venture with Live Nation that shares addresses and apparently some other functions with the streaming service, laid off, furloughed or cut salaries 10%-20% across as much as half the company, as reported by Variety. A source tells Variety that 15 furloughed Tidal employees were laid off last week.
Contacted by Variety, a rep for Tidal had no comment.
While Malibu is technically a separate company — a Black-owned motion picture and video production business based in New York with 95 jobs supported, according to the SBA document — it is part of the Tidal infrastructure. It shares the two most recent addresses with both companies; a 2017 lawsuit alleged that Roc Nation, Tidal, Malibu Entertainment and Tidal parent Aspiro are essentially the same company (although the lawsuit was dismissed without a clear ruling on the matter); in 2017 Malibu submitted for H1B visas for graphic designers providing as a contact for Joseph Borrino, CFO of Roc Nation at the time, who used a Tidal.com email address; and several Tidal employees tell Variety that their paychecks come from Malibu Entertainment. – Source