The inauguration fund for U.S. President-elect Donald Trump and his running mate, JD Vance, is expected to set a new record, with pledged contributions surpassing $150 million.
American business leaders are contributing generously to the fund. According to ABC, $70 million had already been deposited into the fund’s account by early this week, with total pledges exceeding the $150 million target set by Trump’s team.
This will surpass the previous record of $107 million raised for Trump’s first inauguration in 2017.
Billionaire Jeff Bezos of Amazon, OpenAI CEO Sam Altman, and Meta CEO Mark Zuckerberg have each pledged $1 million to the fund. Businessman Ken Griffin, Uber, and its CEO Dara Khosrowshahi have made similar contributions. Automakers Toyota, Ford, and General Motors have also pledged $1 million each, with Ford providing additional support by dispatching a fleet of vehicles for the inauguration.
“Everyone wants to be friends with me,” Trump posted last week on Truth Social.
Opportunity to Gain Favor
Brendan Glavin, research director at the nonprofit OpenSecrets, described contributions to Trump’s inauguration fund as “a golden opportunity to curry favor with the new administration.”
“None of these donors want to become Trump’s punching bag over the next four years,” Glavin said of the corporate leaders.
Trump will take office on January 20, 2025. The inauguration fund can legally accept unlimited contributions. Donors contributing $1 million or raising $2 million will receive six tickets to a series of pre-inauguration events, including a reception with future administration officials, a private dinner with the Trumps, and an inaugural ball.
Far Exceeding Recent Presidential Fundraising
Trump’s inauguration fund is significantly outpacing those of recent U.S. presidents. Former President Barack Obama raised $53 million for his 2009 inauguration and $42 million for his 2013 ceremony. President Joe Biden’s 2021 inauguration raised $63 million.
(Sources: The Guardian, ABC, NBC, WSJ)
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