Washington, DC – President Donald Trump’s inaugural committee raised a staggering $239 million for the inauguration festivities this year. The contributions came from some of the wealthiest individuals and largest corporations in the nation, seeking to build relationships with the Republican president ahead of his return to the White House.
This amount far surpassed the $107 million raised for Trump’s first inauguration in 2017 and dwarfed the $62 million collected by his predecessor, Joe Biden, for his 2021 swearing-in during the Covid-19 pandemic. Major donors to Trump’s committee included Pilgrim’s Pride, Ripple Labs, and Robinhood, with contributions ranging from $5 million to $2 million.
Notably, several generous donors to the committee secured roles in the Trump administration, such as Warren Stephens, Jared Isaacman, and Melissa Argyros. Linda McMahon and Scott Bessent, serving as education secretary and treasury secretary, respectively, also made significant donations.
After the event, it was revealed that more than 60% of the committee’s funding came from over 130 seven-figure donations from major corporations like Meta and Amazon. The large sums raised raised concerns about the influence of moneyed interests in directing cash to a newly elected president to gain favor.
Despite the huge fundraising success, questions arose about the committee’s spending and intentions for leftover contributions. While a spokesperson did not respond to inquiries, it was suggested that excess donations could go towards Trump’s presidential library. Notable figures like Sam Altman, Paul Singer, and Miriam Adelson were among those who made substantial personal donations to the committee.
Some donors had interests before the government, such as crypto businesses seeking regulatory relief and companies like Nvidia and US Steel awaiting government actions. Calls for greater transparency and regulation of inaugural fundraising have been made, with proposed legislation aiming to require detailed disclosure of spending and charitable allocation of leftover funds.
Efforts to increase transparency in inaugural funding have faced challenges in the past, with investigations into Trump’s first inaugural committee over allegations of overpayment for event space at a hotel owned by the Trump Organization. This resulted in a settlement to avoid a trial, emphasizing the need for tighter regulations on inaugural fundraising practices.