President Donald Trump raised a record-shattering $239 million for his inauguration festivities, buoyed by generous donations from large companies.
The haul more than doubled his 2017 inauguration record of $107 million. Around 140 different people and companies gave the committee at least a million dollars.
Companies such as Amazon, Target, Meta, and JPMorganChase donated to Trump’s inaugural committee. The largest donations came from poultry producer Pilgrim’s, which gave $5 million, crypto company Ripple, which gave just under $5 million, and Warren Stephens, who gave $4 million and later became ambassador to Britain.
The inauguration cash haul was about a fifth of the $1.2 billion the Trump campaign and the Republican National Committee raised since Trump launched his campaign in November 2022. The amount also dwarfed the $62 million former President Joe Biden raised during his COVID-29-affected inauguration.
Inaugurations often cost less than the amount raised for the committee, and it’s expected that excess funds will be used for Trump’s presidential library or other efforts. The committee isn’t required to disclose how it spends the money. Some people have said it’s not good to see the amount donated to inaugural committees rise.
“It’s not actually a good thing to see that number go up,” Max Stier, president and CEO of the nonpartisan Partnership for Public Service, told CNN. “It’s an indication of a mechanism for moneyed interests to direct cash to a newly elected president to curry favor.”
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Trump’s total inauguration haul through both of his inaugurations is $346 million, more than all other inaugural committees combined since former President Richard Nixon’s $4 million in 1973.
Trump’s total inauguration haul for both terms is $346 million, more than the combined haul of all other inaugural committees since former President Richard Nixon’s $4 million in 1973.
“It’s a testament to the excitement surrounding his historic win, his inaugural celebration, and the kickoff to his common-sense, America first agenda,” Danielle Alvarez, a spokeswoman for the inaugural committee, told the Wall Street Journal. “To date, he has delivered on promise after promise: securing our border, building up our economy, and peace through strength on the world stage.”
