Backers of President-elect Donald Trump have donated over $200 million for his inauguration, political activities, and future presidential library.
What Happened: The fundraising efforts have been extraordinary, with donors and corporations aiming to curry favor with Trump as he prepares for his second term.
This financial backing emerges after numerous business leaders distanced themselves from the President-elect following the Capitol violence incited by his supporters four years ago this week.
Among the donors pledging support for the inaugural events are Pfizer, OpenAI, Amazon, and Meta, in addition to several cryptocurrency firms. The total funds raised for the inaugural committee are anticipated to exceed the record $107 million raised for his 2017 inauguration.
According to a report by The New York Times, the fundraising surge also benefits a super PAC named Make America Great Again Inc. and its associated nonprofit group. Trump's team intends to utilize these funds to bolster his agenda and support candidates who endorse it.
Also Read: Trump Targets NYC Judges and E. Jean Carroll Ahead of Hush Money Case Sentencing
Trump has proudly touted the fundraising success, asserting that he has raised more than $200 million since the election. His team has frequently emphasized the number of individuals eager to contribute to him following his election victory.
David Tamasi, a lobbyist who has fundraised for Trump, refuted the notion that corporations were donating to evade Trump's ire. However, he conceded that some donors might be attempting to compensate for their previous aloofness from the president-elect.
Why It Matters: This unprecedented fundraising effort underscores the enduring influence of Trump and the willingness of donors and corporations to align themselves with his administration, despite previous controversies.
The funds raised will not only support the inauguration but also fuel Trump's political operations and future presidential library, indicating a long-term investment in his political legacy.
This development also highlights the role of corporate interests and their potential influence on political agendas.
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