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The upcoming inauguration of President-elect Donald Trump is set to become the costliest in American history, with major corporations making substantial financial commitments despite their previous reluctance to associate with him. Industry giants including Amazon, Meta, Toyota, and Goldman Sachs are contributing millions to fund the inaugural celebrations.
These corporations, which had previously suspended political donations following the January 6, 2021, Capitol events based on media characterizations of the incident as an insurrection, are now changing their stance as Trump prepares to return to the presidency.
Jeff Bezos, Mark Zuckerberg, Sam Altman to give $1 million each to Trump inauguration fund | Hannah Nightingale, The Post Millenial
Amazon’s donation to the fund comes as Bezos, the company’s executive chairman, plans to visit Trump next week at Mar-a-Lago.
Silicon Valley tech… pic.twitter.com/xG5Jpfv1Rb
— Owen Gregorian (@OwenGregorian) December 14, 2024
Major tech companies are leading the charge, with both Amazon, under Jeff Bezos, and Meta, led by Mark Zuckerberg, pledging $1 million each to support the inaugural festivities. The automotive sector is also showing strong support, with Ford and General Motors each promising $1 million in donations along with providing a fleet of vehicles for the January 20 inauguration.
The total contributions are expected to exceed the $107 million collected for Trump’s first inauguration in 2017, establishing a new benchmark for inaugural fundraising.
Corporate leaders have been making regular appearances at Mar-a-Lago to meet with Trump’s team, seeking to establish favorable relationships with the incoming administration. According to The Wall Street Journal, a minimum of 11 corporations and trade associations, including Ford, Intuit, and Stanley Black & Decker, have made significant financial commitments.
“EVERYBODY WANTS TO BE MY FRIEND!!!” Trump wrote in a post on Truth Social on Thursday.
According to reports, numerous high-ranking executives from U.S. industries and finance have either visited or plan to visit Mar-a-Lago, Trump’s transition headquarters, aiming to secure influence with an administration that could significantly alter international trade practices.
Meta, the parent company of Facebook and Instagram, confirmed reports it donated $1 million to President-elect Donald Trump's inauguration fund.
This comes just weeks after CEO Mark Zuckerberg met with Trump privately at Mar-a-Lago.
Read More: https://t.co/8HqrvuZhQY pic.twitter.com/lkAWP57jo7
— ABC News Live (@ABCNewsLive) December 12, 2024
OpenSecrets’ research director Brendan Glavin told CNBC that Trump’s inaugural committee offers corporations “a great opportunity for them to curry favor with the incoming administration.” He noted that these efforts are both proactive and defensive, stating, “None of these people, they don’t want to be Trump’s punching bag for four years.”
ABC News reports indicate that fundraising for Trump’s second inauguration has already surpassed a $150 million target, far exceeding Barack Obama’s inaugural fundraising of $53 million in 2009 and $42 million in 2013, as well as Joe Biden’s $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 have a seat at the table keeps going up,” Michael Beckel, director of the political reform advocacy group Issue One, told the outlet.
