Robert De Niro backed luxury sushi restaurant chain took millions in U.S. small business relief program

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Nobu was founded by actor Robert De Niro, celebrity chef Nobuyuki “Nobu” Matsuhisa and film producer Meir Teper.

The luxury sushi chain Nobu took 14 loans from the U.S. small business relief program, reports CNBC.

Data was released found that restaurants were among the businesses that borrowed the most from the federal program.

Robert De Niro. PHOTO: Wikipedia

Nobu which has sites in Malibu, Hollywood and Newport Beach, California, got funding according to data released by the U.S. Small Business Administration, in consultation with the Treasury Department on Monday.

Spending an average USD 660 billion Paycheck Protection Program (PPP) effort, the average loan size was approximately USD 100,000.

According to the data, the Nobu group benefitted from at least USD 11 million.

In 2018, Nobu Hospitality said it expected to reach USD 1 billion revenue in five years. Robert De Niro’s net worth is USD 500 million, according to Men’s Health.

In April, U.S. Treasury Secretary Steven Mnuchin said that that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money.