Breaking News: President Donald Trump’s second inauguration shattered fundraising records, amassing an unprecedented $240 million, according to newly released financial filings.

Experts say reforms could ensure events stay focused on civic rather than private gain

WORLDWIDE:
President Donald Trump’s inaugural committee raised $239 million for the festivities surrounding his swearing-in this year, more than doubling his previous record and far surpassing any other presidential inauguration in US history.

The figure, disclosed in a filing late Sunday with the Federal Election Commission, dwarfed the $107 million raised for Trump’s first inauguration in 2017 and nearly quadrupled the $62 million collected by President Joe Biden for his pandemic-era swearing-in in 2021.

The committee’s biggest donor was poultry giant Pilgrim’s Pride, based in Colorado, which contributed $5 million. Cryptocurrency firm Ripple Labs followed closely with nearly $4.9 million, while trading platform Robinhood gave $2 million.

The filing shows a clear pattern of high-value donors receiving key appointments within the Trump administration.

Arkansas financier Warren Stephens, nominated as US ambassador to the United Kingdom, donated $4 million.

Jared Isaacman, awaiting Senate confirmation to lead NASA, contributed $2 million. Melissa Argyros, nominated as envoy to Latvia, also gave $2 million.

Other donors include Linda McMahon, now serving as education secretary, who gave $1 million, and Treasury Secretary Scott Bessent, who contributed $250,000.

Inaugural committees are prohibited from accepting foreign donations, but there are no caps on the size of contributions they can receive.

This has led to a growing trend of corporations writing seven-figure cheques. Meta’s Mark Zuckerberg and Amazon founder Jeff Bezos each donated $1 million and were seated prominently at the Capitol Rotunda for the January 20 ceremony.

Max Stier, president of the nonpartisan Partnership for Public Service, criticised the soaring fundraising numbers. “It’s not actually a good thing to see that number go up,” he said. “It’s an indication of a mechanism for moneyed interest to direct cash to a newly elected president to curry favour.”

The Trump Vance Inaugural Committee reported raising nearly $245.3 million for the January festivities, returning just over $6 million to donors, according to a new filing with the Federal Election Commission.