SHOT. . .
Patrick Soon-Shiong, the owner of the Los Angeles Times, has a net worth of almost $22 billion, second only to Elon Musk on the list of the wealthiest people in Los Angeles (and the world):
Who were the wealthiest people in L.A. in 2020?
1. Elon Musk (Net worth: $75 billion)
2. Patrick Soon-Shiong ($21.8 billion)
3. Sean Parker ($14.5 billion)
4. David Geffen ($11.8 billion)
5. John Tu ($9.7 billion)https://t.co/yedb3Th1Zf pic.twitter.com/VeQhD1jxDY— L.A. Business Journal (@LABJnews) December 31, 2020
CHASER. . .
His company just received a $10 million PPP loan:
The company running @latimes said it secured a $10 million government PPP loan, the maximum it was eligible to get https://t.co/YRsOp7sad8
— Raju Narisetti (@raju) March 25, 2021
Is this *really* the small business aid Congress envisioned?
The current application deadline for PPP is March 31—just days away. I spoke from the Senate floor today to urge my colleagues to quickly pass bipartisan legislation I’m co-leading to extend the deadline to apply to May 31 and give SBA more time to process loans. pic.twitter.com/z1zgIZ5veI
— Sen. Susan Collins (@SenatorCollins) March 25, 2021
One of his other companies got a PPP loan last year, too:
LA Times, owned by billionaire Patrick Soon-Shiong, receives $10-million federal #PPP loan. One of his hospitals was approved for similar #COVID aid last year #journalism https://t.co/nsM4oYY4S5
— Chad Terhune (@chadterhune) March 24, 2021
The story from back then. Forget his net-worth for a second . . . A newspaper got double the money as a hospital treating coronavirus patients? What is happening:
NEW: Hospital led by biotech billionaire Patrick Soon-Shiong approved for up to $5M in #PPP #coronavirus aid https://t.co/5MlDw50GIM
— Chad Terhune (@chadterhune) July 7, 2020
But, remember kids, we’re all in this together.
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