US President Donald Trump raised a record $239 million for his second inauguration - more than double the amount he received in 2017.
This is reported by Bloomberg, writes UNN.
Details
According to Bloomberg, Trump raised a record $239 million for the inaugural committee, surpassing the $107 million he raised eight years ago. This is also more than the $157 million that former presidents Barack Obama and Joe Biden raised for their three inaugurations.
Unlike Trump, both accepted voluntary limits on the amount donors could contribute. Returned donations are not included in the final amounts. Trump's 2025 committee returned over $6 million it received to donors.
The inaugural committee raised money to pay for receptions, parties, and other events before and after the official ceremonies.
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Many corporate executives publicly supported Trump after his victory in the 2024 White House election, a complete opposite of his 2020 defeat, when executives largely distanced themselves from Trump after his supporters attacked the U.S. Capitol in an attempt to overturn his defeat.
CEOs of prominent companies, including Tim Cook of Apple Inc., Mark Zuckerberg of Meta Platforms Inc., founder of Amazon.com Inc. Jeff Bezos, and Sundar Pichai of Alphabet Inc., sought to gain Trump's favor during his return to the White House. Although some of these companies risk being affected by Trump's new trade policy, including tariffs on imports from China, they actively supported the president.
For example, Nvidia may lose $5.5 billion due to the ban on exporting H20 chips to China. At the same time, the company provided a million dollars and became part of a long list of donors who contributed at least $1 million to the inauguration — there were over 140 such donors. Retailers like Target, and automakers like Hyundai and Toyota, whose U.S. subsidiary donated $1 million, may also be affected.
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Ripple Labs became the second largest contributor to the committee, contributing $4.9 million. Coinbase Inc., Crypto.com, Galaxy Digital, Paradigm, and Payward Inc., better known as Kraken, each contributed $1 million. Robinhood Markets Inc., which offers a trading platform for digital currencies, contributed $2 million.
Poultry producer Pilgrim's Pride Corp. donated $5 million, which was the largest single donation to the committee. According to filings, there were over 140 donors who donated $1 million or more.
Reportedly, Trump's inaugural committee is not required to disclose how it spent the money or what remains in its bank account. It will have to report these amounts to the Internal Revenue Service in its tax return, which is not due until 2026.