According to newly released documents, Dr. Phil’s production companies received up to $7 million from the paycheck protection program, the massive federal plan designed to help small businesses ride out the financial crisis caused by the coronavirus.
Stage 29 Productions, run by Phil McGraw and his son Jay McGraw, got a loan valued at between $1 million and $2 million. The company makes programs, including Dr. Phil’s eponymous talk show and “DailyMailTV,” and was on a list of recipients disclosed on Monday by the Small Business Administration.
Dr. Phil’s other production company, Peteski Productions, also got a loan valued at between $2 million and $5 million, the government agency reported.
On the same day those numbers were reported, Variety reported Phil’s youngest son, aspiring rock star Jordan — who is engaged to reality-TV star and E! host Morgan Stewart — had paid $10 million in cash for a 6,500-square-foot mansion in the exclusive Trousdale Estates neighborhood of Beverly Hills.
There is no link whatsoever between the loans and the home purchase. But after TV sources pondered why the family needed to ask for the government handout, sources close to the star stressed that Dr. Phil’s companies requested the cash to protect their employees — and the loans had nothing to do with Jordan’s house.
This all comes after Dr. Phil apologized in April for questioning on Fox News why lockdowns were necessary when “we don’t shut the country down” for deaths from car accidents and swimming pools. He wrongly claimed 360,000 people die in swimming pools in the United States every year.
Dr. Phil declined to comment.