Jeff Bezos' Amazon.com Inc. (NASDAQ:AMZN) has reportedly pledged a donation of $1 million to President-elect Donald Trump's inaugural event on Jan. 20, following in the footsteps of Mark Zuckerberg and Meta Platforms Inc. (NASDAQ:META).
What Happened: According to a Reuters report on Thursday, Amazon is contributing $1 million to Trump's inaugural fund, with an aim to broadcast the event on its Prime Video service.
Amazon is not alone in its support – Meta is also donating $1 million to the Jan. 20 inauguration, as confirmed by a spokesperson from Meta.
Bezos is also scheduled to meet with Trump next week. This comes after Trump criticized the Washington Post, owned by Bezos, for its coverage during his first term.
The Post refrained from endorsing any candidate in the recent presidential election, a decision that Bezos defended in an opinion piece, citing the need for media credibility.
Trump's previous inauguration in 2017 set a record by raising $106.7 million for the festivities.
Why It Matters: The donations from Amazon and Meta come at a time when both companies are navigating complex relationships with the Trump administration.
Meta's donation follows a period of tension, as Trump had previously accused the company of censoring right-wing voices. Meta's head of global affairs, Nick Clegg, recently admitted that the company might have been overly aggressive in moderating pandemic-related content, signaling a possible thaw in relations.
Despite concerns about Tesla Inc. CEO Elon Musk's influence on the administration, Bezos remains optimistic about future collaborations.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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