Several major corporations are backing Donald Trump’s upcoming inauguration on January 20, 2025 despite previously denouncing the January 6 Capitol invasion in 2021 and promising to reconsider political donations in its aftermath.
According to a report in The Wall Street Journal, the companies are among a growing list of donors who are contributing to what is expected to be a record-breaking inauguration fundraising haul.
WSJ identified at least 11 such companies and trade associations which are providing substantial financial support for Trump’s inaugural fund.
These include companies like Ford, Intuit, Toyota and the Pharmaceutical Research and Manufacturers of America (PhRMA), each giving $1 million.
Notably, most of these companies had promised to pause or re-evaluate political contributions in response to the Capitol riots.
Meanwhile, firms like Goldman Sachs, General Motors, Bank of America, AT&T and Stanley Black & Decker will be contributing to an inauguration fund for the first time in at least a decade, the report said.
The donations come after corporate America had pledged to reconsider financial backing for lawmakers who disputed the 2020 election results.
Most donors did not comment on the reasoning behind their financial support for the event, although some pointed out that their contributions are consistent with longstanding support for presidential inaugurations regardless of which party won the polls.
For instance, Toyota cited its 2022 statement that resumed PAC donations with new guidelines, emphasizing that it would not back those who incite violence.
PhRMA, which halted donations after January 6, said that it had since adopted new criteria to guide its contributions.
The WSJ report said that the rush to fund the inauguration suggests an urgency among corporate executives to build a favorable relationship with the incoming Trump administration.
In the recent weeks, executives from companies including Meta Platforms, Amazon, Google, Pfizer and Eli Lilly have been meeting with Trump at his Mar-a-Lago estate, seeking to align themselves with a president whose policies could significantly impact their industries.
Notably, Bezoz, who owns the Washington Post, put out a long note on why his newspaper did not endorse Kamala Harris during the presidential polls in a departure from tradition.
Meanwhile, the inauguration fund is on track to exceed the $107 million raised for Trump’s first inauguration.
The total is expected to surpass the $61 million raised for President Biden’s inauguration.
In 2017, 18 companies contributed $1 million or more to Trump’s inaugural fund, and this year’s donations are expected to exceed that number, WSJ reported.
Donors who contribute $1 million or help raise $2 million receive special privileges, including tickets to exclusive events with cabinet appointees and even a “candlelight dinner” with Trump and Melania Trump.
Some Trump aides told WSJ that the funding is seen as a way to extract a public acknowledgment from corporate America for its previous distancing from Trump.
One aide cynically remarked on tech billionaires “making a pilgrimage to Mar-a-Lago” and writing $1 million checks as a form of atonement.
Strategists advising companies have stressed on the importance of securing a seat at the table.
Political consultant Kevin Madden told WSJ: “If you’re not at the table, you’re on the menu.”
Some corporations are also advised to remove any language or pledges from their websites that could be seen as supportive of the Democratic Party, including commitments made after January 6 to pause donations, the report said.
For instance, a statement from Stanley Black & Decker’s CEO Jim Loree, condemning the Capitol invasion and vowing to advocate for a peaceful transition of power, is no longer available on the company’s website.
Many donors to Trump’s inauguration are also seeking to influence policies that could impact their industries.
Automakers like Toyota are concerned about tariffs, pharmaceutical companies are wary of Robert F. Kennedy Jr.'s potential appointment to Health and Human Services, and tech giants aim to secure favorable terms amid concerns over censorship and monopolistic behavior.
List of notable donors for Trump’s 2025 inauguration:
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