WASHINGTON — President-elect Donald Trump It has raised more than $170 million for its inauguration, a record number, with tech executives and major donors eagerly writing big checks to help fund the event.
The private donations raised so far were confirmed by a person with first-hand knowledge of the fundraiser who was not authorized to speak publicly. The person said Trump’s inaugural committee expects to raise more than $200 million by the end of the effort.
Trump’s inaugural committee did not immediately respond to a message seeking comment Wednesday. The committee has not yet determined how it plans to spend the donation.
Private donations are typically used to help pay for events surrounding the inauguration, such as the costs associated with the oath of office ceremony, along with a parade and glittering inaugural balls. Money left over from the inaugural committee is expected to be used for a future Trump presidential library, according to the person.
The staggering amount raised so far by Trump’s presidential committee is more than double that of the president Joe Biden He raised nearly $62 million for his inauguration four years ago, according to Federal Election Commission records.
Donations for Trump’s first inauguration in 2016 also set a record when it brought in nearly $107 million.
After the former president’s victory in November, with Republicans gaining control of both houses of Congress, major donors, including tech companies, have been writing big checks in an effort to improve their relationship with the incoming president.
Amazon and Meta, the parent companies of Facebook and Instagram, said last month that they each planned to donate $1 million to Trump’s startup fund. OpenAI CEO Sam Altman also said he planned to make a personal donation of $1 million.
The New York Times first reported Wednesday the amount of fundraising for this month’s inauguration.
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Price reported from New York.
