Megachurch With Ferrari-Driving Pastor Gives Back $4.4M Pandemic Loan
A Houston megachurch, whose celebrity pastor is reportedly worth $50 million, has repaid the federal government $4.4 million in pandemic loans after going viral for the outrageous handout.
Lakewood Church, which is tax-exempt like most religious institutions, took $4.4 million in taxpayer-funded Paycheck Protection Program loans at the height of the COVID pandemic last year—all while senior pastor Joel Osteen flaunted his insane wealth. It caused “Osteen” and “Ferrari” to trend on social media as observers questioned the institution’s need for such a huge payout.
Osteen reportedly owns a $300,000 Ferrari and a $10.5 million mansion, and has been photographed traveling in style on a luxury jet. Meanwhile, he has made appearances on the Today Show, urging people to not “focus on what [they] have or don’t have.”
Lakewood, believed to be the biggest church in the U.S. with an average weekly attendance of 45,000, shut down in-person services last year and told the Houston Business Journal they had to go months without the “ability to collect substantial donations.”
They insisted none of the PPP money went to Osteen or his wife, both of whom allegedly do not receive a salary from the church, and called the loan crucial “during such a time of need.” The money provided the church with “short-term financial assistance” to ensure their 368 employees would “continue to receive a paycheck and full health care benefits,” a church spokesperson said.
Thousands of other religious institutions received up to $7.8 billion in PPP loans, according to some tallies.
Houston Celebrity Pastor Joel Osteen’s Lakewood Church Repays $4.4M in COVID Pandemic Loans (thedailybeast.com)