Donald Trump Secures Over $200 Million in Fundraising for Inauguration and Political Operation
A Staggering Sum: Efforts to Curry Favor with Trump
Since his victory in November, President-elect Donald J. Trump’s allies have raised well over $200 million for a constellation of groups that will fund his inauguration, his political operation, and eventually his presidential library, according to four people involved in the fund-raising.
Corporate Donations: A Time-Honored Tradition
It is a staggering sum that underscores efforts by donors and corporate interests to curry favor with Mr. Trump ahead of a second presidential term after a number of business leaders denounced him following the violence by his supporters at the Capitol on January 6, 2021.
Promises to Industry Supporters
Mr. Trump has promised to gut the "deep state" and made various promises to industry supporters. Among the pledged donors for the inaugural events are Pfizer, OpenAI, Amazon, and Meta, along with cryptocurrency firms.
A Record-Breaking Total
The total haul for the committee financing his inaugural festivities – at least $150 million raised, with more expected – will eclipse the record-setting $107 million raised for his 2017 inauguration, according to three people briefed on the matter who requested anonymity because they were not authorized to share internal financial information.
Super PAC and Non-Profit Group
Other committees benefiting from the fund-raising blitz include a super PAC called Make America Great Again Inc. and its associated nonprofit group, which is expected to be used by Mr. Trump’s team to back his agenda and candidates who support it, while opposing dissenters.
Trump’s Boast
Mr. Trump has boasted about the haul, telling people during the Christmas holiday season that he had raised more than $200 million since the election. Mr. Trump’s team has repeatedly noted how many people have wanted to find ways to donate to him since his election win.
Lobbying Firms and Corporate Interests
The Trump transition and inaugural committee did not return emails seeking comment about the fund-raising haul. David Tamasi, a lobbyist who has raised money for Mr. Trump, dismissed a suggestion that corporate interests were giving to avoid Mr. Trump’s wrath, though he acknowledged that some donors may be trying to atone for having previously maintained distance from the president-elect.
Cross-Pollination among Fund-Raisers
Inaugural committees can accept unlimited contributions from individuals and corporations, but not foreign nationals. Major corporations that try to avoid partisan politics have long donated to inaugural funds to signal a willingness to work with new administrations and support for the democratic transfer of power, regardless of the incoming president’s party.
Conclusion
The staggering sum of $200 million raised by President-elect Donald J. Trump’s allies for his inauguration, political operation, and presidential library underscores the efforts of donors and corporate interests to curry favor with the president-elect ahead of his second term. The record-breaking total is expected to eclipse the amount raised for his 2017 inauguration.
FAQs
Q: How much has been raised for Donald Trump’s inauguration and political operation?
A: Over $200 million has been raised by President-elect Donald J. Trump’s allies for his inauguration, political operation, and presidential library.
Q: Which companies have pledged donations to the inaugural events?
A: Pledged donors include Pfizer, OpenAI, Amazon, Meta, and cryptocurrency firms.
Q: Why are companies donating to the inaugural events?
A: Companies are donating to the inaugural events to curry favor with President-elect Donald J. Trump ahead of his second term and to signal a willingness to work with his administration.
