“Clearly, they expect something in return”: The corporate costs of inaugurating Trump

Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos — two of the world’s richest men who clashed with Trump in recent years — have traveled to Mar-a-Lago since his reelection and made Trump-friendly adjustments to their businesses.

“It seems like most major corporations are racing to make sure that they’re in OK standing with the future president,” Michael Koncewicz, a political historian and associate director of New York University’s Institute for Public Knowledge, told Salon.

“Trump is someone who is openly vindictive, who has openly pronounced that he is going to go after his enemies,” Lichtman told Salon. “Even supposedly liberal Silicon Valley CEOs don’t want to face retribution from Trump.”

“Clearly, they expect something in return for their money. Whether they get it or not is another question.”

about this topic

But Donald Trump’s massive fundraising haul for his second swearing-in is unprecedented in the modern era, experts say, and underscores the degree to which powerful corporate interests are now willing to court his favor. 

We need your help to stay independent

Related

What companies want

Companies in the crypto space are hoping for a law that provides a clear governing framework for digital currency, as well as a friendlier watchdog. They’re likely to get it — Trump has nominated crypto ally Paul Atkins to lead the Securities and Exchange Commission, the federal agency that led a crackdown under the Biden administration.

The New York Times reported Tuesday that Trump has raised more than $170 million for the inaugural committee that oversees parades, balls and other events. The final numbers won’t be known until 90 days after the Jan. 20 event, when the committee is required under law to disclose the names and amounts of all donations over $200. Trump set the previous record for inaugural fundraising in 2017, at $107 million. 

Representatives of Bank of America and Goldman Sachs said the banks plan to donate but haven’t landed on a figure. OpenAI’s Sam Altman plans to personally contribute $1 million.

But Trump’s $107 million inauguration in 2017 “set a new standard for big donations from supportive corporations and individuals, and those who hope to get benefits from government,” Lichtman told Salon. 

source