WASHINGTON (AP) — Major corporations are lining up to fund President-elect Donald Trump‘s inauguration with unprecedented financial support, including companies that previously distanced themselves from him following the January 6, 2021, Capitol riot.
Leading automotive manufacturers Toyota, Ford, and General Motors have each pledged $1 million to the inaugural committee, with the latter two also providing vehicles for the event. Silicon Valley giants Amazon, Meta, and OpenAI matched these contributions, while ride-hailing company Uber committed $2 million, partially through its CEO’s personal donation.
Traditional Wall Street institutions Goldman Sachs and Bank of America have also made significant contributions, alongside cryptocurrency exchanges Kraken and Coinbase. Other major donors include AT&T, Charter Communications, Stanley Black & Decker, Intuit, and Pratt Industries, each pledging seven-figure amounts.
The pharmaceutical industry is participating through The PhRMA trade group’s substantial contribution, indicating broad corporate support across various sectors.
Many of these companies had suspended political donations and issued statements condemning the Capitol riot four years ago. Some have since removed these statements from their websites as they pivot toward the incoming administration.
“People just really want to move forward and move on. The election results were very clear,” a company representative told the Wall Street Journal.
The inaugural fundraising is expected to surpass previous ceremonies, including President Biden’s 2021 inauguration, suggesting corporations may view Trump as a more transactional leader. Industry analysts note that companies likely hope their donations will secure favorable consideration during his second term.
This surge in corporate support represents a significant shift in the business community’s approach to Trump, with many firms apparently setting aside previous concerns in favor of building relationships with the incoming administration.
