Mon April 21, 2025
President Donald Trump’s inaugural committee raised an unprecedented $240 million for this year’s swearing-in festivities — a massive influx of cash largely driven by wealthy donors and major corporations eager to align themselves with the Republican leader ahead of his return to the White House.
The amount, disclosed in a Federal Election Commission filing on Sunday, more than doubles the $107 million raised for Trump’s 2017 inauguration and nearly quadruples the $62 million collected by President Joe Biden for his scaled-back 2021 ceremony during the COVID-19 pandemic.
The top donor was Pilgrim’s Pride, a Colorado-based poultry company, contributing $5 million. Cryptocurrency company Ripple Labs followed with nearly $4.9 million, while Robinhood, the trading platform, gave $2 million.
Several high-dollar contributors were also tapped for roles in the new administration. Financier Warren Stephens, nominated as ambassador to the UK, gave $4 million. Billionaire Jared Isaacman, awaiting Senate confirmation to lead NASA, and Melissa Argyros, Trump’s pick for ambassador to Latvia, each contributed $2 million. Education Secretary Linda McMahon donated $1 million, and Treasury Secretary Scott Bessent gave $250,000.
While inaugural committees are prohibited from accepting foreign donations, there are no limits on domestic contributions. Many corporations contributed seven-figure sums, including Meta and Amazon, each giving $1 million. Their leaders, Mark Zuckerberg and Jeff Bezos, received prime seating at the January 20 inauguration inside the Capitol Rotunda.
Max Stier, president and CEO of the nonpartisan Partnership for Public Service, criticized the ballooning costs of inaugurations: “It’s not actually a good thing to see that number go up,” he said. “It’s a sign of how wealthy interests use these events to gain influence with a new administration.”
The Trump Vance Inaugural Committee reported raising a staggering $245.3 million for the events surrounding President Donald Trump’s latest inauguration — a record-breaking sum that far surpasses previous inaugural fundraising efforts. Of that total, more than $6 million was refunded to donors, though no explanation was provided for the returned funds. Notably, nearly 60% of the money came from just over 130 donors who each contributed $1 million or more, underscoring the immense role of ultra-wealthy individuals and corporate entities in shaping the tone and scale of the celebrations.
These figures were disclosed in a filing submitted to the Federal Election Commission (FEC) on Sunday, which marked 90 days since the inauguration — the legal deadline for inaugural committees to publicly report donations of $200 or more. While the disclosure sheds light on who funded the festivities, it leaves significant questions unanswered. The report is not required to detail how the money was spent, nor does it reveal what will become of any unspent funds.
When contacted for comment, the inaugural committee did not respond to inquiries regarding its expenditures or the size of any remaining surplus. However, according to a source close to Trump’s fundraising operations, leftover funds are expected to be funneled toward the creation of a presidential library. Trump has reportedly already begun raising money for such an endeavor. In one notable example, a $15 million payment tied to a defamation settlement Trump reached with ABC News was directed to a “presidential foundation and museum,” offering a potential glimpse into how future excess funds might be allocated.
The list of major donors reads like a who’s who of business and tech power players. OpenAI CEO Sam Altman, hedge fund titan Paul Singer, and Miriam Adelson — a longtime Trump supporter and widow of casino magnate Sheldon Adelson — each contributed $1 million. Their generous support is emblematic of how Trump’s inner fundraising circle has expanded to include prominent figures from a range of industries.
Some of these donors have active interests before the federal government, raising questions about the intersection of political giving and policymaking. Several cryptocurrency firms that donated significant amounts are reportedly seeking regulatory relief from Trump’s administration after tighter oversight during the Biden years. Meanwhile, U.S. Steel, which is currently awaiting federal approval for its potential acquisition by Japan’s Nippon Steel, contributed slightly more than $100,000. Chipmaker Nvidia — affected by recent U.S. export restrictions to China in the midst of an ongoing trade dispute — gave $1 million.
Critics have expressed concern about the sheer scale of the funds raised. Steve Kerrigan, who managed the inaugural committees for President Barack Obama and assisted with President Biden’s pared-down 2021 inauguration, emphasized the excessive nature of Trump’s fundraising. He pointed out that Obama’s 2009 inauguration — which included 10 official balls, a massive parade through Washington, and a high-profile concert at the Lincoln Memorial — was successfully funded with just $54 million. In contrast, Trump’s second inauguration featured only three official balls, along with a pre-inauguration rally in Washington and a fireworks display at Trump’s golf club in Sterling, Virginia.
Kerrigan, along with government watchdog groups such as the liberal-leaning Public Citizen, has called for reforms to inaugural fundraising rules. They argue that despite the funds being privately raised, the public deserves transparency. “It may not be public money,” Kerrigan said, “but the public deserves to know how it’s being spent.”
To address these concerns, Sen. Catherine Cortez Masto (D-NV) introduced legislation earlier this year aimed at increasing oversight and accountability. Her bill would require inaugural committees to provide detailed disclosures on how money is spent, ban the use of funds for personal benefit, and mandate that any unspent funds be donated to IRS-approved charities. If passed, it would represent one of the most comprehensive reforms to inaugural financing in modern history.
However, similar efforts have failed in the past. Trump’s own inaugural committee from 2017 was previously the subject of an investigation by the Washington, D.C., attorney general, who alleged the committee overpaid for event space at the Trump International Hotel. That inquiry ended in a $750,000 settlement paid by the Trump Organization and the committee. Though they denied any wrongdoing, the entities agreed to the settlement to avoid the time and expense of a trial.
As Trump enters another term, scrutiny over the vast sums of money tied to his inauguration — and the opaque system surrounding it — is likely to intensify. With public trust in institutions under pressure and wealthy donors playing an increasingly prominent role in politics, many believe that stronger regulations are not only warranted, but long overdue.