Home Headlines Headlines Opinion Dr. Phil Is Worth $400 Million, So Why Does He Need a $7 Million PPP Loan?

Dr. Phil Is Worth $400 Million, So Why Does He Need a $7 Million PPP Loan?

Bernadette Giacomazzo
Last Updated September 23, 2020 2:03 PM
  • Dr. Phil received more than $7 million in PPP loans.
  • Meanwhile, his son Jordan purchased a $10 million home in Beverly Hills.
  • How much lower can “the good doctor” stoop?

Dr. Phil just got $7 million.

According to recently released records, his production company applied for—and received—more than $7 million in a Paycheck Protection Program (PPP) loan.

Of course, this comes hot on the heels of the news that his son Jordan—who also works for the production company—purchased a $10 million home in Beverly Hills.

I’m sorry, but what part of the game is this?

Why Did Dr. Phil Need $7 Million For His Production Company?

The Paycheck Protection Program was designed to help small businesses ride out the economic strain caused by the COVID-19 pandemic. Recently unearthed documents have revealed that the ones who have benefitted the most from this program are businesses that are decidedly quite alright during the pandemic .

Dr. Phil
Why is a multimillionaire like Dr. Phil benefitting from small business loans that help actual people in need? | Source: Twitter 

Stage 29 Productions—the production company owned by Dr. Phil and his son—is one such company. Yet, they got a loan valued between $1 million and $2 million.

It gets worse: the McGraws’ other production company, Peteski Productions, got a loan valued between $2 million and $5 million.

That brings the total to $7 million .

Meanwhile, Dr. Phil has a net worth of more than $400 million  as of 2019. That $10 million mansion of his son’s? He “gifted it” to him .

Something in the milk isn’t clean, folks.

Really, How Much Shadier Can He Get?

We’ve already gone over the myriad ways Dr. Phil is all types of awful. He’s a charlatan with a shady history of sexual assault, has problematic views on everything from #BlackLivesMatter to mental health (remember the Britney Spears fiasco?). His response to the COVID-19 pandemic has left much to be desired, to put it politely.

Now, he’s taking money that belongs to small businesses—businesses that are, in fact, the life-blood of the American economy —while he gives his spoiled son unnecessary gifts.

Can cancel culture do its thing and cancel Dr. Phil already?


Disclaimer: The opinions expressed in this article do not necessarily reflect the views of CCN.com.