Trump sets new record with $239 million raised for inauguration committee
President Donald Trump raised an unprecedented $239 million for his inauguration committee, significantly surpassing the $107 million raised for his 2017 inauguration. This impressive total was supported by substantial contributions from around 140 individuals and companies, including major corporations like Amazon, Target, Meta, and jpmorgan Chase. The largest donations came from Pilgrim’s, Ripple, and Warren Stephens.
The funds raised are about a fifth of the $1.2 billion collected by Trump’s campaign and the Republican National Committee as he announced his candidacy in November 2022. In contrast, former President Joe Biden raised $62 million for his inauguration during the COVID-19 pandemic.
While inaugurations typically cost less than the money raised, it is anticipated that any surplus will be allocated towards Trump’s presidential library or related initiatives, though the committee is not obligated to disclose the specifics of the spending. Concerns have been raised about the growing amounts donated to inaugural committees, with some viewing it as a means for wealthy entities to influence the newly elected president.
Trump’s fundraising efforts for both of his inaugurations total $346 million, outpacing all previous inaugural fundraising combined since Richard Nixon’s inauguration in 1973. this substantial support reflects the enthusiasm surrounding Trump’s administration and his agenda.
Trump sets new record with $239 million raised for inauguration committee
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.”
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