
Washington DC:
Wall Street and corporate America, which largely supported Kamala Harris in the run-up to the US presidential election, are seeking to make inroads with incoming US President Donald Trump, with many business leaders pledging to donate large sums to his inauguration committee. . Reports indicate the Republican leader’s second inaugural fund could exceed the record $107 million raised in 2017.
Among the biggest donors are OpenAI CEO Sam Altman, Jeff Bezos’ Amazon, and Mark Zuckerberg’s Meta, who have all pledged $1 million each, according to a report from the Amazon Foundation. The Guardian.
According to the report, Uber and its CEO Dara Khosrowshahi, along with auto giants Toyota, General Motors and Ford, also received $1 million. Ford is also said to be adding a fleet of vehicles to its donations.
According to a Bloomberg report, hedge fund manager Ken Griffin also plans to donate $1 million. More donations from financial leaders are also said to be in the works.
Why does everyone want to be Trump’s friends?
Last week, the president-elect wrote on Truth Social, “EVERYONE WANTS TO BE MY FRIEND!!!”
Donald Trump, thanks to his landslide electoral victory, has promised to revamp US economic policy in a way that would greatly benefit a few favored industries. It also gave value to face-to-face meetings, prompting several top US industry and financial executives to make a trip to Mar-a-Lago, the headquarters of Trump’s transition team.
Inaugural committees are appointed by presidents-elect to plan and finance most of the pomp that traditionally surrounds the transfer of power from one administration to another.
Among those who visited the Mar-a-Lago property was Meta CEO Mark Zuckerberg. Trump also recently met with Alphabet CEO Sundar Pichai, Apple CEO Tim Cook, and Amazon CEO Jeff Bezos.
Trump’s inaugural committee represents a “unique opportunity” for business leaders to gain influence and access to new candidates, said Brendan Glavin, research director at OpenSecrets, a non-profit organization that focuses on money in politics. CNBC.
“None of these people,” he added, “wants to be Trump’s punching bag for four years.”
“One of the oldest sayings in Washington is that if you’re not at the table, you’re on the list, and the price of admission for a seat at the table just keeps going up,” said Michael Bickle, director of the Washington Policy Center. The reform advocacy group told the outlet’s first issue.
Donations are ready to break records
ABC News The Trump-Vance Inaugural Committee is on track to set a new inauguration fundraising record, with pledged contributions already exceeding the $150 million fundraising goal, it reported.
Trump’s first inauguration holds the record for receiving the maximum funding at $107 million, followed by Joe Biden’s inauguration in 2021, which raised $63 million, then Barack Obama’s inauguration in 2009, which raised $53 million, and then his 2013 inauguration with $42. Million dollars.
Corporations are following in Republicans’ footsteps
the Wall Street Journal Dozens of US companies that pledged to “withhold support from those who questioned the results of the 2020 election” are now reportedly lining up to fund Donald Trump’s inauguration.
The report identified 11 such companies, including Ford, Intuit, Toyota and the Pharmaceutical Research and Manufacturers of America (PhRMA), which have all pledged to donate $1 million each.
Other major donors to Trump’s inauguration who also made related pledges on January 6 include Goldman Sachs, General Motors, Bank of America, AT&T, and Stanley Black & Decker.
For Goldman Sachs, Intuit, Toyota and PhRMA, this is said to be the first time in at least a decade that they have backed an inaugural fund.
According to the newspaper report, entities that donate $1 million or raise $2 million to Trump’s inauguration are set to receive six tickets to a series of pre-inauguration events, including a reception with Cabinet picks, and a “candlelight dinner” with Donald and Melania. Trump. And a black tie ball.
“The old saying is, if you’re not at the table, you’re on the menu… There’s going to be a lot of work to be done in 2025 and 2026, and the process starts now,” said Kevin Madden, a task force member. a longtime Republican strategist told the outlet.