However, the package has sparked controversy in recent days after it emerged a number of large companies worth billions had also qualified., Nikola Motor Company recently released plans to go public and merge with VectoIQ, with the deal leading to the company’s multibillion-dollar valuation.“There’s a difference between a high valuation and having cash,” the statement reads.
“Yes, we had PPP help our 350 employees stay paid and didn’t reduce payroll. We also hired those laid off. Would you rather them be furlough or not hire others? This is what the PPP was for. It’s unreal you’ll just spread fake news without verifying and tagging me to politics,” he posted in a tweet.“For the thousandth time! We are not publicly traded. I didn’t pay $30 million in cash for a house, I have a mortgage. I can’t mix personal funds with business. I’m paper rich, not cash.
The Paycheck Protection Program was originally created as part of the Coronavirus Aid, Relief and Economic Security Act, which was passed on March 27. The health and economic fallout of the coronavirus has been particularly brutal in the US.
Senator Sheldon Whitehouse called it a “scandal” to “loot American taxpayers in the midst of an economic and human tragedy”.
Of course. Several billion dollar business have. It's ludicrous to contemplate - Such is the value of our existence now. It's about money - and how much of it we can get. Shows they are more valuable on paper than in actual physical finance.
And your point?