Jan 9, 2025, 3:54 AM
Jan 7, 2025, 1:53 PM

Trump issues Israeli hostage warning ahead of inauguration

Highlights
  • Trump's inaugural committee raised over $170 million for the inauguration, a record-breaking amount.
  • This funding will cover costs for key inaugural events and may be directed to a future presidential library.
  • The level of financial support signifies strong backing from major donors and tech companies towards Trump’s administration.
Story

In the United States, President-elect Donald Trump has successfully raised over $170 million for his upcoming inauguration, marking a new record in fundraising for such events. This impressive figure has been attributed to substantial contributions from major tech executives and noteworthy donors, who have shown eagerness to support the ceremony through large donations. Reports indicate that Trump’s inaugural committee anticipates the total amount raised could surpass $200 million by the conclusion of the fundraising effort. The funds collected are typically designated for a variety of expenses associated with inaugural events, which include the official oath-taking ceremony, a grand parade, and extravagant inaugural balls. While specifics on the allocation of these donations have not been confirmed, it has been suggested that any surplus funds may eventually contribute to a future Trump presidential library. This fundraising achievement has drawn comparisons to past presidential inaugural fundraising efforts, highlighting the magnitude of Trump’s financial backing from various sources. Particularly noteworthy is the contrast between Trump's current inaugural contributions and those raised for Joe Biden’s inauguration, where Biden’s campaign garnered nearly $62 million. Trump’s first inauguration in 2016 had already set a record at that time with nearly $107 million raised. Following Trump’s victory and the Republican party gaining control of both the House and the Senate in the recent elections, the influx of significant financial support from prominent donors has surged, as many are keen to foster a strong rapport with the incoming president. In addition to individual contributions, corporate giants such as Amazon and Meta, the parent company of Facebook and Instagram, have publicly committed $1 million each to Trump’s inaugural fund. Notably, OpenAI's CEO Sam Altman has also expressed his intention to contribute $1 million personally. The high-profile donations indicate a strategic effort by companies to cultivate favorable relationships with the new administration, showcasing their strong financial commitment to Trump. The inauguration is slated to occur on January 20, with the ceremony taking place at the U.S. Capitol in Washington, D.C. As the date approaches, anxieties are tempered by the assurances from security officials that major disruptions or protests are not expected on inauguration day. The Department of Defense has authorized roughly 7,800 National Guard troops for security during the event, bolstering the protection measures as tensions remain given previous political unrest surrounding Trump’s tenure. In conclusion, Trump's unprecedented fundraising for his inauguration reflects the extensive backing he receives from influential donors, raising expectations for the events on January 20.

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