- Since Donald Trump’s victory, he has raised more than $200 million, at least $150 million of which is for his inauguration, according to a report. He appears to be beating his own record.
The inauguration is two weeks away. Since Donald Trump’s victory, Silicon Valley and Wall Street elites have generously donated to his inauguration and other events.
According to the New York Times, the President-elect and his allies have raised more than $200 million for not only his inauguration but also his political operations and eventual presidential library, citing four sources.
And, during the holidays, Trump reportedly told people that he had raised more than $200 million since the presidential election. Quite the Christmas present. The Trump transition team did not immediately respond to Fortune’s request for comment.
At least $150 million has been raised specifically for his inauguration celebrations. It exceeds the record $107 million raised for his previous inauguration eight years ago, and more donations are expected, according to three people familiar with the situation.
And it’s more than double the $62 million raised by President Joe Biden for his inauguration.
Given the massive fundraising effort for the inauguration, any remaining funds are expected to go toward Trump’s presidential library, according to the Times.
Make America Great Again Inc., a super political action committee, is reportedly also benefiting from the cash windfall. That comes after raising approximately $400 million in 2023 and 2024, according to Federal Election Commission data.
Meta contributed $1 million to the once-and-future president’s inauguration, despite what appeared to be a strained relationship between Trump and CEO Mark Zuckerberg.
Following the Capitol insurrection on January 6, 2021, Meta’s Facebook locked Trump’s account. His account was ultimately reinstated.
Amazon, if it hasn’t already, intends to donate $1 million to the inauguration, despite the fact that its founder, Jeff Bezos, owns the Washington Post. By the way, Bezos and Zuckerberg are the world’s second and third richest men, respectively, following none other than Elon Musk, Trump’s billionaire backer and latest right-hand man.
Not to mention, Open AI CEO Sam Altman previously stated that he would personally donate $1 million to Trump’s inauguration. Uber CEO Dara Khosrowshahi contributed $1 million to the inauguration as well.
Then there’s Citadel billionaire CEO Ken Griffin, who previously stated that he would make a $1 million donation, while Goldman Sachs and Bank of America have said they would donate to the inaugural committees but would not reveal the amount.
There are more, of course, but this is a small sample of the money coming in.
Corporations have long donated to inaugural funds as a way to signal their willingness to collaborate with the new administration. Nonetheless, four years ago, when the transfer of power was not peaceful and there was a riot at the Capitol following Trump’s defeat to Biden, some executives condemned the events.
It’s unclear whether those executives or the companies they lead are contributing to Trump’s second inauguration, but others clearly have.
General Motors CEO Mary Barra condemned the violence on January 6, 2021, but her company recently told Reuters that it would donate $1 million and vehicles to Trump’s inauguration.
And four years ago today, Apple CEO Tim Cook wrote: “Today is a sad and shameful day in our country’s history.” Those responsible for this uprising should be held accountable, and we must complete the transition to President-elect Biden’s administration. “Our ideals are most important when they are challenged.”
Nonetheless, sources told Axios that he is personally donating $1 million to Trump’s inaugural committee. Apple did not immediately respond to a request for comment.
