Team Trump is after the cash.
President-elect Donald Trump's political activities are receiving an influx of money following his election victory, with approximately $500 million reportedly expected to be raised by the summer.
This pile of cash represents about a third of what he and outside groups raised in 2024, and could help him embolden cooperative Republicans in the 2026 midterm elections.
“Money is flowing into Mar-a-Lago. Trump doesn't have to do anything. Everyone is coming to him,” said one of Trump's advisers. told Axiosfirst reported this story.
“We're aiming for $500 million. [dollars] We are on track to be on track by June,” the advisor continued. “It’s kind of a goal, but it’s just a realistic projection of what’s going on.”
The outpouring of donations has spread to groups including the Republican National Committee, the Trump Presidential Library Fund, the nonprofit Securing American Greatness, the super PAC MAGA Inc., and the presidential inauguration account, according to the report. That's what it means.
Trump dramatically overspent in the 2016, 2020 and 2024 election cycles, but donors appear to be warming him now as he enters his final term in the White House. .
Scores for companies such as Hyundai, Stellantis, DeltaGoogle, Meta, and Amazon have all announced plans to pour $1 million into President Trump's inauguration fund.
Some CEOs look like this: Apple's Tim Cook and OpenAI CEO Sam Altman He has pledged or already contributed about $1 million to his first fund.
Donations span numerous industries, including finance, technology, cryptocurrencies, healthcare, and more.
Since Trump's election victory, industry titans have flocked to Mar-a-Lago, and the president-elect has granted them access.
“The crypto guys are just blowing it away,” a Trump adviser told Axios. “A million dollars used to be a big number. Now we're looking at some people giving as little as $10. [million] Or $20 million. ”
The president-elect has tapped entrepreneur David Sachs as White House AI and crypto czar and signaled plans to forge a friendly relationship with the crypto industry.
Despite the huge windfall, Trump's allies are adamant that they can't buy him on policy, and they won't hesitate to support policies that differ from Trump's. .
“He'll take your money and say, 'I'm not going to give you what you want,' and he did that during the campaign,” another Trump adviser told Axios. “He's going to do what he wants and what the base wants.”
Underlying the surge in donations is concern within some companies that rivals will be better able to tap into President Trump's favor.
For example, space and electric vehicle mogul Elon Musk has been courted by Trump since the summer and has actively campaigned on Trump's behalf.
Jeff Bezos, who competes with Mr. Musk's SpaceX through Blue Origin in the modern space race, has publicly expressed optimism about Mr. Trump. Bezos' company Amazon is currently working on a documentary about Melania Trump.
Meanwhile, Meta boss Mark Zuckerberg, who competes with Musk's X on social media platforms, has loosened content moderation policies and stepped up his public criticism of the Biden administration.
All three tech giants plan to attend President Trump's inauguration.
An outside group aligned with the Trump campaign raised the following points: $1.4 billion During the 2024 cycle, while Harris' allies were raising money; Approximately 2 billion dollarsaccording to data from OpenSecrets.
The newspaper has reached out to Trump's transition team for comment.
