After Trump supporters stormed the Capitol in 2021 in an attempt to reverse the results of the presidential election, many companies paused donations and political contributions to organizations associated with Trump or any lawmaker who voted against certifying the results of the election.
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However, that outlook has now changed as business leaders work to rebuild relationships with the incoming president who is expected to have a major affect on their company’s outlook in the future.
According to reporting from the Wall Street Journal, Ford, Toyota, Intuit, and Pharmaceutical Research and Manufacturers of America are each giving $1 million. Other big donors include General Motors, Bank of America, AT&T, Goldman Sachs, and Stanley Black & Decker.
“People just really want to move forward and move on. The election results were very clear,” said a representative at one of the companies, speaking to the Wall Street Journal.
Corporate representatives have been making trips to Mar-a-Lago to meet with the president-elect and his team in an attempt to get the incoming administration on their side. Trump has met with the leaders of Amazon, Google, Eli Lily, Meta, Pfizer and others within the last month.
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According to the Wall Street Journal, the cryptocurrency trading platform Kraken donated $1 million and same as Coinbase, a cryptocurrency-exchange platform. Trump has been friendly to the industry and has vowed to ease regulatory burdens, which did not happen under the Biden administration or in the 118th Congress.
Amazon and Charter Communications each contributed $1 million to Trump’s inaugural fund. Uber Technologies is donating $1 million in addition to another $1 million from CEO Dara Khosrowshahi, a $1 million increase from Biden’s.
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Officials working on Trump’s inauguration are reporting they are likely to raise more than the $107 million that they brought in for the incoming president’s first inauguration.
In 2017, Trump’s fund received donations from 18 companies, according to Federal Election Commission Filings. In comparison, Biden’s inauguration in 2020 raised $61 million.
