Since his election victory, President-elect Donald Trump and his allies have amassed over $200 million to fund his inauguration, political endeavors, and a future presidential library, The New York Times reported.
According to individuals familiar with the efforts, over $200 million has been secured to support his upcoming inauguration, political activities, and a future presidential library.
The Trump inaugural committee alone has raised at least $150 million, surpassing the record-breaking $107 million collected for his 2017 inauguration.
Major contributors include corporations such as Pfizer, Amazon, Meta, and OpenAI, as well as significant pledges from cryptocurrency firms like Ripple and Robinhood. Donors of $1 million or more get exclusive perks such as access to high-profile events, including dinners and black-tie balls with the president-elect and Vice President-elect J.D. Vance.
Contributions must be made by Jan. 10 to secure access to inauguration perks.
This influx of funds comes amid shifting relationships between Trump and the business community. Some donors seek to align with his administration after distancing themselves following the Capitol riots on Jan. 6, 2021.
Lobbyist David Tamasi said corporations are now embracing the opportunity to support the administration, a move he described as a "time-honored D.C. tradition."
The fundraising also benefits entities like the super PAC Make America Great Again Inc., which backs Trump's political agenda and candidates while targeting dissenters. Several top fundraisers involved in these efforts have ties to lobbying firms representing industries with significant stakes in the incoming administration's policies.
Lobbyist Jeff Miller, the inaugural committee's finance chair, represents firms like Pfizer and Uber, which have made substantial donations. OpenAI's CEO Sam Altman pledged $1 million, while Ripple committed $5 million in cryptocurrency — one of the largest contributions. Robinhood, a client of the Ballard lobbying firm, donated $2 million, and the company expressed optimism about the administration's stance on cryptocurrency regulation.
Amazon, another Ballard client, donated $1 million, signaling a desire to mend fences with the president-elect after a contentious relationship during his first term. Other notable donors include Meta and billionaire Ken Griffin, each contributing $1 million.
Donations to inaugural committees are publicly disclosed to the Federal Election Commission months after the inauguration. Excess funds raised beyond the event's budget may be redirected to initiatives like the Donald J. Trump Presidential Library Fund, which was incorporated in December. The fund aims to preserve and promote Trump's legacy through a museum and foundation.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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