President-elect Donald Trump’s inauguration fund has attracted a record-breaking $170 million, including donations from some of the biggest names in technology, aviation, and automotive seeking support from the incoming administration.
This is more than double the $62 million raised for Joe Biden’s inauguration in 2021 and Trump’s first inauguration of nearly $107 million in 2016.
Google, Microsoft Corp (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) and Amazon.com Inc (NASDAQ:AMZN) have each pledged $1 million to the fund.
Google is not only contributing financially but also providing technical support by livestreaming the inauguration event on YouTube, which will be accessible via a direct link on its homepage.
Microsoft has a history of similar contributions, having donated $500,000 to both Trump's first inauguration and President Biden's.
Aerospace firm Boeing Co (NYSE:BA, ETR:BCO) has also committed $1 billion. A spokesperson stated that this donation aligns with Boeing's tradition of bipartisan support for US Presidential Inaugural Committees.
The list of contributors includes other major corporations as Apple Inc (NASDAQ:AAPL, ETR:APC), and several automotive companies like Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), and Toyota Motor (NYSE:TM), also making donations.
After a presidential candidate wins the election in the United States, they establish an inaugural committee responsible for organizing and financing various inaugural events. This committee oversees activities such as the swearing-in ceremony, parades, galas, and other celebrations that mark the beginning of the president's term.