KEY POINTS

  • Dr. Phil’s production companies received $7 million in loans from the government
  • Phil’s youngest son recently shelled out $10 million in cash for a 6,500-square-foot mansion
  • Sources said the PPP loans and Jordan's purchase were not connected

Dr. Phil's production companies have reportedly received $7 million in government aid loans as the TV personality's son forked out $10 million for a Beverly Hills mansion.

Stage 29 Productions, run by Phil McGraw and his son, Jay McGraw, reportedly got a $1 million-$2 million loan from the Paycheck Protection Program (PPP), Page Six reported. Peteski Productions, another production company owned by Dr. Phil, got a loan valued at between $2 million and $5 million.

These loans were part of the federal plan to help small businesses cope with the financial strain brought on by the ongoing coronavirus pandemic.

Meanwhile, Dr. Phil's son, 34-year-old musician Jordan McGraw, recently splurged on a new estate amid the financial crisis. On Monday, Variety reported that the talk show host’s youngest son shelled out  $10 million in cash for a 6,500-square-foot mansion in the exclusive Trousdale Estates neighborhood of Beverly Hills, California.

While there is no link between the government loans and the home purchase, it did cause quite a stir, with many wondering why the McGraws asked for the handout.

However, sources revealed to Page Six that Dr. Phil’s companies requested the cash to protect their employees and that the loan has nothing to do with the purchase of Jordan’s house.

Jordan is an aspiring rock star and is currently engaged to "Rich Kids of Beverly Hills" star Morgan Stewart. The couple dated for seven months before announcing their engagement on July 4.

They had dated for 12 months nearly a decade ago before rekindling their romance last year.

"You wanna know a very fun fact, you guys? We dated 10 years ago for a year and then he broke up with me," Stewart shared during an Instagram Live on "Nightly Pop." "And I was like, 'Fine, whatever. I don't care.' And then I went on obviously to have another relationship and then the past year we got back together."

Expressing his delight over the news, Dr. Phil commented on the engagement announcement on Instagram, saying, "Morgan, Robin and I are so thrilled for you and Jordan. So proud to add you to the family! Love you both!!!"

Dr. Phil McGraw Dr. Phil McGraw speaks onstage at Zimmer Children's Museum Discovery Award Dinner at Skirball Cultural Center on Nov. 15, 2016 in Los Angeles. Photo: Rebecca Sapp/Getty Images for Zimmer Children's Museum