Tech leaders and companies are showing their support for President-elect Donald Trump by contributing significant amounts to his inaugural fund. Amazon, led by billionaire Jeff Bezos, has pledged to donate $1 million to the fund and will also stream the ceremony on Prime, amounting to another $1 million in-kind donation. Similarly, Mark Zuckerberg’s Meta, the parent company of Facebook and Instagram, plans to send $1 million to Trump’s inaugural fund. OpenAI CEO Sam Altman is also making a personal donation of $1 million to the fund, citing his support for Trump’s efforts in advancing America in the age of AI.
Elon Musk, the world’s richest man and CEO of X, Tesla, and SpaceX, has been a frequent presence by Trump’s side at Mar-a-Lago and has previously contributed $277 million to help get Trump elected. CBS News has reached out to Reddit and other major corporations, including Walmart, Home Depot, and Target, to inquire about their plans regarding donations to the inaugural fund.
While Google donated $285,000 to Biden’s inaugural fund four years ago, the company has not announced any plans to donate to Trump’s fund. Reports suggest that Google’s CEO, Sundar Pichai, had plans to meet with Trump, indicating a potential shift in the company’s stance towards the incoming administration. Tech company CEOs have been visiting Trump at Mar-a-Lago, signaling a change in their approach following in-person meetings with the president-elect.
Trump’s relationship with social media and tech companies has been contentious in the past, with public hostility towards companies like Amazon and Google. However, both sides seem to have softened their stances, with Bezos expressing optimism about a second Trump term and Musk reinstating Trump’s social media accounts on X and Facebook after the Capitol assault in 2021.
The tech industry’s willingness to donate to Trump’s inaugural fund marks a shift from the previous inauguration, where tech CEOs were less eager to contribute. For Trump’s 2017 inauguration, which raised $107 million, his biggest donors were from sports teams, casinos, venture capital firms, and banks. The Trump-Vance Inaugural Committee, responsible for planning inaugural events, accepts limitless donations and provides donors with the opportunity to interact with the incoming administration.
Inaugural committees play a crucial role in adding pomp and circumstance to the inauguration without burdening taxpayers. Donors who contribute to the committee can expect access to the president, vice president, and Cabinet officials, fostering relationships with the new administration. The congressional committee, established by Congress, handles the swearing-in ceremony at the Capitol, while the presidential committee manages other events associated with the inauguration.
While only a fraction of the budget for the 2025 inauguration is allocated to the committee, taxpayers are likely to incur additional costs. The 2021 inauguration, excluding security expenses following the Capitol assault, cost an estimated $73 million, highlighting the financial implications of such events.
As tech leaders and companies align themselves with the incoming administration through substantial donations, the landscape of political contributions and relationships between the tech industry and government continues to evolve. Stay tuned for further developments as Trump’s inauguration approaches and the tech industry’s involvement in the event unfolds.
