American business leaders are spending heavily on Donald Trump’s second inaugural fund, which is expected to even surpass the record $107 million raised in 2017.
The donations, which are not restricted by campaign finance laws, come as industrialists and business leaders seek to curry favor with the new administration after the president-elect won decisively a second non-consecutive term in November.
Some of the planned donations would have include $1 million each from Jeff Bezos’ Amazon, OpenAI CEO Sam Altman, and Facebook parent company Meta, led by Mark Zuckerberg.
Hedge fund manager Ken Griffin said he planned to donate $1 million, Bloomberg reported; Uber and its CEO Dara Khosrowshahi reportedly each paid $1 million; And ToyotaFord and General Motors each pay $1 million. Ford is also would have combine your donation with a fleet of vehicles.
“EVERYONE WANTS TO BE MY FRIEND!!! » Trump wrote in an article on Social truth THURSDAY.
Many senior executives from American industry and finance have already made the trip to Mar-a-Lago, the headquarters of the Trump transition team, or are reportedly considering doing so, as they seek to gain influence and gain access to the new administration which threatens to undermine it. international trading standards.
Brendan Glavin, research director for OpenSecrets, a nonprofit focused on money in politics, told CNBC last week that Trump’s inaugural committee presents a “great opportunity for them to curry favor with the new administration.”
Glavin pointed out that courting Trump is as much a defensive posture as it is a charming offensive one. “None of these people want to be Trump’s punching bag for four years,” he told the outlet.
ABC News reported that Trump’s second inauguration is poised to break the precedent Record $107 millionas pledged contributions have already exceeded the fundraising goal of $150 million. Barack Obama’s inauguration raised $53 million in 2009 and $42 million in 2013, and Joe Biden’s inauguration raised $63 million in 2021.
“One of the oldest adages in Washington is that if you’re not at the table, you’re on the menu, and the price of admission to get a seat at the table keeps going up,” said Michael Beckel, director of the political party. reform advocacy group Issue One, told the outlet.
Tuesday’s Wall Street Journal identified 11 companies and trade associations that support Trump’s second inauguration, despite pledging to suspend or reconsider political action committee donations after the January 6, 2001 riot at the U.S. Capitol.
The Journal noted that Ford, Intuit, Toyota and Pharmaceutical Research and Manufacturers of America are among the companies that made January 6-related commitments but now support the Trump committee.
A Phrma spokesperson told the outlet that the company “announced a pause in our donations at the time, then added new criteria to guide our contributions.”
The Journal reported that political strategists have advised companies to scrub their websites and corporate policies of language favorable to Democrats. This includes a letter from former Stanley Black & Decker CEO Jim Loree condemning the Capitol attack and promising that the company would “advocate for our democracy and a peaceful transition of power.”
The company is donating $1 million to the inaugural fund, a significant increase from the $25,000 it gave to Trump in 2017.
Trump aides said the fundraiser was not about money but a symbolic way of demanding an apology for any previously perceived breaches of loyalty.
According to the Journal, donors who give $1 million or raise $2 million will receive six tickets to a series of pre-inauguration events, including a reception with cabinet picks, a “candlelight dinner” with Trump and Melania Trump and a black tie ball. .