The Billionaire Founder Of Nikola Motors Explains Why His $3.3B Company Needs Small Business Rescue Cash [Forbes]
CNH Industrial N.V. Common Shares (CNHI)
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Source: Forbes
Nikola Motors billionaire CEO Trevor Milton standing in front of a hydrogen powered big rig truckTim Pannell For ForbesLast Friday, when a$349 billion emergency loan program authorized by Congress to save America’s small businesses from the coronavirus ran dry, mom-and-pop businesses across the country threw their arms up in the air: Though they were quickly running out oftheir requests for loans weren’t metInstead, a stream of financial disclosures made by over a hundred companies showed that over $500 million in cash went to publicly-traded corporations, some withvaluations in the billions and with hundreds of millions of dollars in annual revenuestheir small business rescue cashBut there are some prominent holdouts.Trevor Milton, the billionaire founder of hydrogen truck unicorn Nikola Motor Co., isn’t prepared to return his company’s $4.1 million loan,first reportedToday In:“I wish I could see into the future about how long the virus shutdown will affect us for. Right now, it has
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