Trump Raised a Record $240 Million for Inauguration, Filings Reveal

U.S. (RNN TV) — President Donald Trump’s inaugural committee raised an unprecedented $239 million for the events surrounding his swearing-in this year, more than doubling the amount raised for his first inauguration and far surpassing any other inauguration in U.S. history.

This figure, disclosed in a late Sunday filing with the Federal Election Commission, dwarfs the $107 million raised for Trump’s first inauguration in 2017, and nearly quadruples the $62 million raised by President Joe Biden for his pandemic-era 2021 inauguration.

The committee’s largest donor was Colorado-based poultry giant Pilgrim’s Pride, which contributed $5 million. Close behind was cryptocurrency firm Ripple Labs with nearly $4.9 million, and trading platform Robinhood, which donated $2 million.

The filing reveals a pattern where high-dollar donors were often rewarded with significant appointments in the Trump administration. Arkansas financier Warren Stephens, nominated as U.S. ambassador to the United Kingdom, donated $4 million. Jared Isaacman, nominated to lead NASA, gave $2 million, as did Melissa Argyros, nominated as ambassador to Latvia.

Other notable donors included Linda McMahon, who became education secretary, contributing $1 million, and Treasury Secretary Scott Bessent, who donated $250,000.

While inaugural committees are prohibited from accepting foreign donations, there are no limits on the size of contributions. This has led to an increasing number of corporations writing seven-figure checks. Notable donors included Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos, each donating $1 million and seated prominently at the Capitol Rotunda for the January 20 ceremony.

Max Stier, president of the nonpartisan Partnership for Public Service, criticized the growing fundraising numbers, stating, “It’s not actually a good thing to see that number go up. It’s an indication of a mechanism for moneyed interests to direct cash to a newly elected president to curry favor.”

The Trump Vance Inaugural Committee raised nearly $245.3 million for the January event, returning just over $6 million to donors, according to the FEC filing.

The report highlights that over 60% of the funds raised came from more than 130 donations of $1 million or more, illustrating the increasing financial influence surrounding U.S. presidential inaugurations.

Sunday marked the 90-day deadline for the committee to disclose individual donations over $200, though the committee is not required to report how funds were spent or provide details about any remaining funds, leaving the public with only a partial view of its financial activities.

A spokesperson for the committee did not respond to inquiries about expenditures or unused funds.

Sources close to Trump’s fundraising operations have suggested that any surplus funds may be directed toward a planned presidential library. In one instance, a $15 million defamation settlement with ABC News last year included provisions for proceeds to go toward a “presidential foundation and museum.”

Among individual donors giving $1 million were OpenAI CEO Sam Altman, hedge fund manager Paul Singer, and Miriam Adelson, a prominent Republican donor and widow of casino magnate Sheldon Adelson.

The donor list also includes companies with business interests before the federal government. US Steel, which was awaiting a decision from the Trump administration on a potential acquisition by Japan’s Nippon Steel, contributed just over $100,000. Chipmaker Nvidia, impacted by export restrictions to China, also donated $1 million, as did several cryptocurrency firms seeking relief from Biden-era regulations.

Steve Kerrigan, who led inaugural committees for President Barack Obama and helped organize Biden’s 2021 ceremony, stated that the funds raised by Trump far exceeded what was necessary. He pointed out that Obama’s first inauguration raised about $54 million, a sum that adequately funded a much larger program of official events.

Trump’s second inauguration featured three official balls, an arena rally in Washington the day before the swearing-in, and a fireworks display at his golf club in Sterling, Virginia.

Kerrigan, along with advocacy groups such as Public Citizen, has renewed calls for increased transparency in inaugural fundraising. A bill introduced this year by Senator Catherine Cortez Masto aims to require detailed spending disclosures, ban the personal use of funds, and ensure leftover money is donated to IRS-recognized charities.

Previous efforts to tighten rules around inaugural fundraising have failed. Trump’s 2017 inaugural committee faced an investigation by the Washington, D.C. attorney general, resulting in a $750,000 settlement over alleged excessive payments for event space at a Trump-owned hotel. Both the Trump Organization and the committee denied any wrongdoing, claiming the settlement was reached to avoid the costs of prolonged litigation.

Source: Web Desk