After winning the 2024 US elections, President-elect Donald Trump’s team raised more than $200 million. The funds will be used to finance his inauguration ceremony on January 20, his overall political operation, and ultimately his presidential library.
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Since winning the 2024 U.S. presidential election, Republican President-elect Donald Trump and his allies have raised more than $200 million for a group formed to fund his Jan. 20 inauguration ceremony, his overall political operation and, ultimately, , his presidential library. This figure was shared by four people involved in the fundraising process following Trump’s victory in the November election, The New York Times reported.
This marks a radical change from the time when several prominent business leaders denounced him following the violence perpetrated by his supporters on January 6, 2021. Before taking back the Oval Office, Trump had promised to slash the “deep state” and had associated itself with several industry supporters. According to The New York Timessome pledged donors for the inaugural events include Pfizer, OpenAI, Amazon and Meta, as well as cryptocurrency companies.
According to insiders, the committee has raised a whopping $150 for the inauguration ceremony, with more expected – eclipsing the record $107 million raised for its inauguration in 2017. Among other committees benefiting from this Fundraisers include a super PAC called Make America Great Again Inc. and its associated nonprofit group, which is expected to be used by Trump’s team throughout his second candidacy.
How Trump’s team welcomes the funds
In the past, Trump has boasted about the influx of these funds. Over the Christmas holiday, the president-elect told people he had raised more than $200 million since the election. His team has often explained that people have been asking for ways to donate to him since his election victory. David Tamasi, a lobbyist who raised money for New York Times that some donors may be trying to atone for having previously maintained their distance from the Republican leader.
“It’s a time-honored DC tradition that businesses are enthusiastically embracing this cycle in every way, largely because they were on the sidelines in previous Trump cycles,” he said. “They no longer have to hedge their political bets. » It is pertinent to note that inaugural committees can accept unlimited contributions from individuals and businesses, but not from foreign nationals.
According to the report, the deadline to donate to Trump for the inaugural ceremony is January 10 and potential donors have been notified by mail. In the event that the inaugural committee’s fundraising exceeds the amount budgeted for the festivities, the excess money would have to be transferred to the committee raising money for a presidential library for Trump after he leaves office.
On December 20, the Donald J. Trump Presidential Library Fund Inc. was formed after ABC News agreed to pay $15 million to Trump’s future presidential foundation and museum to settle a defamation suit he filed against the network. The fund’s goal is to “preserve and steward the legacy of President Donald J. Trump and his presidency,” his team said.
With the contribution of agencies.
