Joel Osteen’s multi-million dollar Lakewood Church will pay back the PPP loan it received for $4.4 million.
In December, the megachurch received the massive payout from the Paycheck Protection Program, which was meant to provide financial assistance to businesses negatively impacted by the COVID-19 pandemic that swept the world in 2020. Once news of the cash began to circulate, many people slammed Osteen and the church for accepting the money, considering how wealthy the pastor is. Lakewood is the largest megachurch in the nation, with an average weekly attendance of 43,500 worshippers.
According to the church’s spokesperson, Donald Iloff, the funds paid Lakewood’s 368 employees, many of whom were forced to stay home during lockdown measures. He claims that Osteen didn’t receive any of the money for himself.
Despite the loan being forgivable, months of backlash regarding Osteen hoarding wealth and unnecessarily receiving the emergency money has driven the church to pay it back in full.
Osteen is one of the wealthiest pastors in the world, with a net worth of $40 million. His wealth has been amassed by the success of his 14 book releases and paid appearances. As head pastor of Lakewood, he is entitled to a $200,000 annual salary, though he has declined it.
Osteen has not publicly commented on the matter.
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