President-elect Donald Trump’s upcoming inauguration is poised to become the most expensive in U.S. history, fueled by substantial contributions from major corporations that had previously distanced themselves from him. Companies such as Amazon, Meta, Toyota, and Goldman Sachs have pledged millions to the inaugural fund.
In the aftermath of the January 6, 2021, Capitol events, several corporations suspended political donations, influenced by media narratives portraying the incident as an insurrection.
However, with Trump’s return to the White House imminent, these firms are reversing course. Jeff Bezos’ Amazon and Mark Zuckerberg’s Meta have each committed $1 million to the inauguration fund.
Two American auto giants — Ford and General Motors — will each donate $1 million and provide a fleet of vehicles for President-elect Donald Trump’s Jan. 20 inauguration.
This influx of corporate donations is expected to surpass the $107 million raised for Trump’s 2017 inauguration, setting a new record.
Executives from these companies have been actively engaging with Trump’s team at Mar-a-Lago, seeking to secure favorable positions with the administration.
The Wall Street Journal reports that at least 11 corporations and trade associations, including Ford, Intuit, and Stanley Black & Decker, have collectively contributed millions.
The Guardian reported:
“EVERYBODY WANTS TO BE MY FRIEND!!!” Trump wrote in a post on Truth Social on Thursday.
Many senior executives in US industries and finance have already made the trip to Mar-a-Lago, Trump’s transition team headquarters, or are planning to, according to reports, as they seek to gain influence and access to the incoming administration that’s threatening to shake up international trading norms.
Brendan Glavin, director of research for the money-in-politics nonprofit OpenSecrets, told CNBC last week that Trump’s inaugural committee presents a “great opportunity for them to curry favor with the incoming administration”.
Glavin pointed out that courting Trump is as much a defensive as a charm-offensive posture. “None of these people, they don’t want to be Trump’s punching bag for four years,” he told the outlet.
ABC News reported that Trump’s second-inauguration haul is on track to shatter the previous $107m record, as pledged contributions have already exceeded a $150m fundraising goal. Barack Obama’s inauguration raised $53m in 2009 and $42m in 2013, and Joe Biden’s raised $63m 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.
