October 21, 2021

Joel Osteen’s Church To Pay Back $4.4 Million PPP Loan

Joel Osteen’s multi-million greenback Lakewood Church pays again the PPP mortgage it acquired for $4.4 million.

In December, the megachurch acquired the huge payout from the Paycheck Safety Program, which was meant to offer monetary help to companies negatively impacted by the COVID-19 pandemic that swept the world in 2020. As soon as information of the money started to flow into, many individuals slammed Osteen and the church for accepting the cash, contemplating how rich the pastor is. Lakewood is the largest megachurch within the nation, with a median weekly attendance of 43,500 worshippers.

In accordance with the church’s spokesperson, Donald Iloff, the funds paid Lakewood’s 368 staff, a lot of whom have been compelled to remain residence throughout lockdown measures. He claims that Osteen didn’t obtain any of the cash for himself.

Regardless of the mortgage being forgivable, months of backlash relating to Osteen hoarding wealth and unnecessarily receiving the emergency cash has pushed the church to pay it again in full.

Osteen is without doubt one of the wealthiest pastors on the earth, with a web value of $40 million. His wealth has been amassed by the success of his 14 ebook releases and paid appearances. As head pastor of Lakewood, he’s entitled to a $200,000 annual wage, although he has declined it.

Osteen has not publicly commented on the matter.