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Saturday, Feb. 18, 2023

Do the children of Wisconsin US Sen. Ron Johnson own a share of a private jet company that received a PPP loan?

Erin Gretzinger, Wisconsin Watch
yes

The children of U.S. Sen. Ron Johnson own a minority interest in Maxair, Inc. which received a Paycheck Protection Program loan — but the loan was secured before they invested in the company, according to a statement from Johnson's office to Wisconsin Watch.

According to ProPublica, the charter company received $125,000 from the PPP program, created to encourage retention of employees during the pandemic. Johnson's children obtained a minority interest in Maxair in September 2020 — after it received PPP money, Johnson spokeswoman Corrine Day said.

Johnson's children's investment company has a non-controlling interest in Maxair, Day said. That means they own less than 50% of the company's shares and do not have unilateral decision-making power. 

"Senator Johnson had no knowledge of the PPP loan and has no financial interest in either Maxair or his children’s investment company," Day said. 

See a full discussion of this at Wisconsin Watch

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