Corporations, Crypto Back Trump’s Record-Breaking Inauguration Fund

President Donald Trump’s second inauguration amassed a record-breaking $239 million, fueled by seven-figure donations from major corporations like Hyundai Motor America, Nvidia Corp., and Target Corp., according to Federal Election Commission filings, as per Bloomberg.

This easily surpasses the $107 million raised for his first inauguration eight years prior, and dwarfs the combined $157 million raised for the three inaugurations of former Presidents Barack Obama and Joe Biden, who both adhered to voluntary donation limits.

The significant fundraising haul comes as many corporate leaders, initially hesitant after the January 6th Capitol attack, have publicly embraced Trump following his 2024 White House win. CEOs of prominent companies like Apple, Meta, Amazon, and Alphabet were notably present at the inauguration, signaling a shift in the corporate landscape.

However, some of the largest donors stand to be significantly impacted by Trump’s potential policies, including tariffs and trade wars with China. Nvidia, which contributed $1 million, faces a potential $5.5 billion loss due to restrictions on selling its H20 chip in China. Retailers like Target and auto manufacturers like Hyundai and Toyota, also million-dollar donors, could be burdened by additional costs levied on U.S. imports.

The crypto industry emerged as a prominent supporter, buoyed by Trump’s recent embrace of digital assets. Ripple Labs contributed a substantial $4.9 million, making them the second-largest donor. Coinbase, Crypto.com, Galaxy Digital, Paradigm, Payward Inc. (Kraken), and Robinhood Markets also chipped in significant amounts.

Poultry producer Pilgrim’s Pride Corp. topped the list of individual donors with a $5 million contribution. The filings revealed that over 140 donors contributed $1 million or more.

While federal law allows inaugural committees broad discretion in accepting contributions, donations from foreign nationals and corporations are prohibited.

Trump’s inaugural committee is not required to disclose how the funds were spent until its tax return is filed with the IRS in 2026. The committee also refunded over $6 million in donations, which is not included in the $239 million total. The funds were intended to cover receptions, parties, and other events surrounding the official inauguration ceremonies.