The second inaugural ceremony of President Trump’s reelection in the United States may be the one to receive the largest corporate donations in history.
Currently, Ford, financial software giant Intuit, Toyota, and the Pharmaceutical Research and Manufacturers of America (PhRMA) have each donated $1 million. Other major donors include Goldman Sachs, General Motors, Bank of America, AT&T, and Stanley Black & Decker.
According to the Wall Street Journal, for Goldman Sachs, Intuit, Toyota, and PhRMA, this is the first time in at least a decade that they have provided funding for a presidential inauguration ceremony.
Since the 2024 U.S. presidential election, corporate executives have been flocking to Trump’s Mar-a-Lago estate in Florida to meet with the President-elect and his team, hoping to establish a good relationship with the new administration.
In recent weeks, Trump has met with the chief executives of tech giants Meta, Amazon, Google, Pfizer, and American pharmaceutical company Eli Lilly.
The report stated that most companies have not commented on the reasons for their donations, while a few have said that their sponsorship of the inauguration ceremony has been ongoing for decades, regardless of party affiliation.
The Wall Street Journal has confirmed that 13 companies have currently donated $1 million or more, and inauguration officials say this year’s funding is expected to surpass the $107 million raised for Trump’s first inauguration ceremony. In contrast, President Biden’s inauguration ceremony only raised $61 million. In 2017, Trump’s inauguration fund received donations of $1 million or more from 18 companies, and this year’s donations are expected to exceed that number.
Donors who contribute $1 million or raise $2 million from others are eligible for a series of events, including a pre-inaugural cabinet member reception, a dinner with Trump and First Lady Melania, and a black-tie gala.
Trump’s aides have indicated that the rush of large corporations to donate is a form of “apology” for their previous cold attitudes towards Trump, or even publicly distancing themselves. This refers to some major companies suspending donations to politicians or groups challenging the results of the 2020 election after the Capitol Hill incident on January 6, 2021.
Many companies suspended donations after the January 6 incident and have now resumed their contributions. The eagerness to support Trump’s inauguration ceremony shows a significant shift in the American business community in anticipation of Trump’s return.