Donald Trump Approaches Inauguration With Record-Setting Fundraising, Détente With Corporate Donors

President-elect Donald Trump is approaching his second inauguration with record-setting fundraising, amassing over $200 million since Election Day, The New York Times reported.

Trump’s allies have raised over $200 million to fund his political operation, inauguration and his legally mandated presidential library, The New York Times reported, citing four sources involved in the fundraising. Some of the donors sending funds for the inaugural reportedly include Amazon, Meta, Pfizer, OpenAI and numerous cryptocurrency companies.

With $150 million already raised — and more expected to follow — the haul will top Trump’s $107 million reported from his 2017 inauguration, according to The New York Times. Trump has reportedly told people throughout the Christmas season that he’s raised over $200 million since the election; his team also noted to the outlet how many people are eager to donate since his win against the 2024 Democratic presidential nominee, Vice President Kamala Harris.

Among the fundraisers, lobbyist David Tamasi dismissed the claim corporations were donating in order to avoid Trump’s perceived wrath. It is possible, however, some donors are providing funds in order to make amends for previously being distant from Trump, Tamasi told the outlet.

“It is a time-honored D.C. tradition that corporations are enthusiastically embracing this cycle in all manners, largely because they were on the sidelines during previous Trump cycles,” Tamasi told the outlet. “They no longer have to hedge their political bets.”

Trump has taken in over $200 million so far –– blowing past the record $107 million he accepted for his first inauguration after his 2016 win.

by @AnnTelnaes pic.twitter.com/xS99ke9b9w

— Annie van Leur (@AnnevanLeur) January 4, 2025

Inaugural committees are allowed to accept unlimited donations from corporations and individuals but are not allowed to accept anything from foreign nationals, The New York Times noted. Many corporations reportedly offer inaugural funds representing their willingness to work with an incoming administration.

Some major contributions include $1 million from ride-share company Uber and cryptocurrency entities such as XRP and Robinhood, who pledged $5 million and $2 million, respectively, the outlet reported.

“We look forward to working with President Trump and the incoming administration to drive positive change in the markets, be an active voice for customers and pursue our mission to democratize finance for all,” Robinhood’s Vice President of Global Government and External Affairs, Mary Elizabeth Taylor, said in a statement to the outlet.

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Fiona McLoughlin

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