Wall Street and corporate America, which prominently supported Kamala Harris for the US presidential election, are now trying to make inroads with incoming US President Donald Trump, with many business leaders donating huge sums to her inaugural committee. Have promised to do. , The Republican leader’s second inaugural fundraiser could exceed the record-setting $107 million raised in 2017, reports suggest.
According to a report in The Guardian, some of the biggest donors include OpenAI CEO Sam Altman, Jeff Bezos’s Amazon and Mark Zuckerberg-led Meta, who have pledged $1 million each.
According to the report, Uber and its CEO Dara Khosrowshahi as well as automobile giants Toyota, General Motors and Ford are also earning $1 million. Ford is also reportedly adding a fleet of vehicles to its donation.
Hedge-fund manager Ken Griffin also plans to donate $1 million, Bloomberg reports. More donations from finance leaders are also reportedly in the works.
Why does everyone want to be Trump’s friend?
Last week, the president-elect wrote on his Truth Social, “Everyone wants to be my friend!!!”
Empowered by his landslide election victory, Donald Trump has promised to reform US economic policy in a way that could greatly benefit some favored industries. He has also valued face-to-face meetings, prompting several senior executives in US industries and finance to travel to Mar-a-Lago, Mr Trump’s transition team headquarters.
Inaugural committees are appointed by presidents-elect to plan and finance much of the fanfare traditionally associated with the transfer of power from one administration to another.
Meta CEO Mark Zuckerberg was among those who visited the Mar-a-Lago estate. Mr Trump also recently met with Alphabet CEO Sundar Pichai, Apple CEO Tim Cook and Amazon CEO Jeff Bezos.
Brendan Glavin, research director at money-in-politics nonprofit OpenSecrets, told CNBC that Mr. Trump’s inaugural committee presents a “unique opportunity” for business leaders to gain influence and access to up-and-coming people.
“None of these guys want to be Trump’s punching bag for four years,” he said.
“One of the oldest sayings in Washington is that if you’re not at the table, you’re on the menu, and the price of admission keeps going up to get a seat at the table,” says Michael Beckel, political director of the reform advocacy group Issue One. told the outlet.
Dan is ready to break records
ABC News reported that the Trump-Vance inaugural committee is on track to set a new record in inaugural fundraising, as pledged contributions have already surpassed their fundraising goal of $150 million.
Mr Trump’s first inauguration holds the record for maximum funds raised at $107 million, followed by $63 million raised at Joe Biden’s 2021 inauguration, $53 million raised at Barack Obama’s 2009 inauguration and $42 million at his 2013 inauguration. Were collected.
Companies toeing the Republican line
The Wall Street Journal reported that dozens of US companies that had pledged to “withdraw support from those disputing the 2020 election results” are now lining up to fund Donald Trump’s inauguration.
The report identified 11 such enterprises, including Ford, Intuit, Toyota and the Pharmaceutical Research and Manufacturers of America (PhRMA), which have pledged to donate $1 million each.
Other major donors to Mr. Trump’s inauguration, who also made related pledges on Jan. 6, include Goldman Sachs, General Motors, Bank of America, AT&T and Stanley Black & Decker.
For Goldman Sachs, Intuit, Toyota and PhRMA, this is reportedly the first time in at least a decade that they are backing an inaugural fund.
Organizations that donate $1 million or raise $2 million for Mr. Trump’s inauguration are set to receive six tickets to a series of pre-inauguration events, including one with Cabinet picks, the Journal reports. The reception includes a “candlelight dinner” with Donald and Melania Trump. And a black-tie ball.
“The old adage is, if you’re not at the table, you’re on the menu…There’s a lot of work going to happen in 2025 and 2026, and the process starts now,” Kevin Madden, a longtime Republican strategist, told the outlet. Told to.
