Donald Trump’s upcoming inauguration has attracted seven-figure donations from Fortune 500 companies and individual billionaires, who are eager to curry favor with the new administration. The event, privately funded by big donors, offers exclusive benefits, including attending a candlelight dinner with the president-elect and his wife Melania, as well as VIP tickets to a “Starlight Ball.”
Online retail giant Amazon, Ford Motor Company, and hedge fund billionaire Ken Griffin have pledged $1 million each, while cryptocurrency firm Ripple is contributing $5 million. Casino magnate Sheldon Adelson donated $100 million to a pro-Trump super PAC during the 2024 campaign.
The auto industry could face significant challenges if Trump delivers on his pledges to impose tariffs and end tax credits for electric vehicles. Companies like Ford and General Motors are increasing their donations, with both contributing $1 million to Trump’s inaugural committee this time.
Those who provide big checks will have even more opportunities to mingle with the new president and top officials in his administration. Donors who give $250,000 or raise $500,000 can attend exclusive events, including a candlelight dinner and a swearing-in ceremony, while those who donate $1 million or more receive perks reserved for higher-level contributors.
The influx of big donors reflects the high-stakes consequences that some corporate America could face if Trump delivers on his pledges. “This is guaranteeing wealthy donors a level of access that most Americans could only dream of,” said Joe Biden donor and campaign finance expert, who notes that even ardent supporters may struggle to meet the odds of rubbing shoulders with a president or high-ranking official.
Source: https://edition.cnn.com/2024/12/26/politics/trump-inauguration-corporate-donors/index.html