NFL superstar Tom Brady faced a lot of backlash when he purchased an ultra expensive boat just a little after his company TB12 received a $960,000 loan under PPP.
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Tom Brady is one of the biggest names in the world of the NFL. Although several other players in the competition take home more cash per season than him, he has amassed an insane amount of wealth.
Brady isn’t just a fantastic footballer but a masterful businessman as well. His other ventures have allowed him to rake in huge profits.
It does sound a bit odd that a man whose net worth is around $250 million took a loan back in 2020. As it turns out, Brady’s company did actually took a loan for $960,000 under the paycheck protection program.
When the Covid-19 pandemic wreaked havoc in the US, the Congress had passed the PPP in order to assist the businesses that were struggling to sustain in 2020.
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Tom Brady had purchased a super expensive boat after taking a loan under PPP
Tom’s company TB12 was also eligible to take a loan under the program and they ended up doing exactly that. However, TMZ had reported that after Tom took the loan, he didn’t spare much time in buying an expensive brand new boat.
Reportedly, Tom ended up spending a few million dollars to get the custom-made 40 plus foot boat. Brady named the boat “Viva a Vida,” based on the name of wife Gisele Bundchen’s environment conservation initiative.
Tom Brady’s company took almost $1M in PPP loans, while 52% of small businesses that applied didn’t get any.
Tom Brady is worth $200,000,000. pic.twitter.com/St2L95ODxr
— Sawyer Hackett (@SawyerHackett) December 4, 2020
It doesn’t take a rocket scientist to understand that Brady didn’t really need that loan. There is absolutely nothing wrong in buying a new boat. However, at a time when the chips were down and several small businesses were bleeding, taking a loan and then buying a boat wasn’t a very bright idea.
As expected, Tom faced a lot of backlash for his action as around 52% of small businesses that applied for the loan were returned empty-handed.
As of now, Tom is gearing up for the upcoming NFL season. He retired and then un-retired in a matter of weeks earlier this year. Throughout his career, Brady has had his share of controversies.
However, no one can deny that he is a veteran of the game who has achieved what many couldn’t have even imagined. With more Super Bowl titles to his name than any single franchise in the completion, Brady would come out all guns blazing this season with the intention of adding more laurels to his name.
