Donald Trump’s 2024 presidential bid attracted significant financial backing from a mix of corporate donors, billionaire executives and industry giants.
With strong financial backing from sectors including oil and gas, technology and finance, Trump secured a well-funded campaign that helped propel him back into the White House.
Why It Matters
Campaign financing plays a crucial role in shaping political strategies, policy priorities and even administrative appointments.
Trump’s fundraising efforts reflect the support of influential donors who may expect favorable policies in return. The financial backing from corporate and billionaire donors signals key industry interests in a potential second Trump presidency. It also shows which companies are rushing to support the incoming administration by donating to its inaugurual fund.
What To Know
Trump has raised substantial sums from high-profile corporations and business leaders. According to Rolling Stone, major companies such as Chevron, ExxonMobil and Occidental Petroleum have contributed to Trump’s inauguration committee. Tech giants Amazon and Meta also donated $1 million each, along with Uber and Qualcomm. The cryptocurrency industry has also emerged as a major donor, with Coinbase, Kraken, Galaxy Digital Holdings, Crypto.com and Paradigm Operations each contributing $1 million.
Private prison companies CoreCivic and GEO Group each donated $500,000, potentially positioning themselves to benefit from Trump’s planned immigration policies. GEO Group’s executive chairman, George Zoley, explicitly acknowledged these benefits, stating: “We believe that the private sector will play a critical role in assisting the government in carrying out its objectives…The GEO Group was built for this unique moment in our country’s history and the opportunities that it will bring.”
Some donations, however, arose from other circumstances. Airbnb, for example, contributed $100,000 to Trump’s inaugural fund, but those donations stemmed from an earlier contribution made in the summer that Republicans did not use. Over the summer, Airbnb offered $100,000 in coupons to both the Republican National Committee and Democratic National Committee so that they could put up their respective staffs during their naming conventions. The RNC did not use those coupons, and after Trump’s election victory, requested that they be redeemed instead for the inaugural committee.
“Airbnb provided $100,000 in coupons to the inaugural committee to assist with accommodations in Washington, D.C. during the inauguration, as we did for both the Republican National Convention and Democratic National Convention over the summer of 2024,” the company said in a statement shared with Newsweek.
Keith Srakocic/AP Photo
List of Companies and Executives Who Have Donated to Donald Trump
Below are a list of companies that have either donated to Trump’s presidential campaign or the Presidential Inaugrual Committee.
- Elon Musk: $290 million
- Timothy Mellon: $150 million
- Adelson Clinic for Drug Abuse Treatment & Research: $106 million
- Linda McMahon of WWE: $16 million
- Hendricks Holding Co: $15 million
- Bigelow Aerospace: $14.1 million
- Laura & Issac Perlmutter Foundation: 12.4 million
- ABC Supply: $11 million
- Cantor Fitzgerald: $11 million
- Uline: $10 million
- Pratt Industries: $10 million
- British American Tabacco: $10 million
- Southern Waste Systems: $9 million
- Elliott Management: $7 million
- Andreesseen Horowitz: $7 million
- Viotl Inc: $6 million
- Timothy Dunn of CrownQuest: $5 million
- Jeff Sprecher of Intercontinental Exchange and Kelly Loeffler: $4.9 million
- Phil Ruffin, a business partner of Trump’s: $3.3 million
- Jimmy John Liautaud of Jimmy John’s: $3.1 million
- Geoffrey Palmer: $3 million
- Bernard Marcus, former CEO of Home Depot: $2.7 million
- Robert Johnson, owner of New York Jets: $2.7 million
- Winklevoss twins: $2.6 million
- Kenny Troutt of Excel Communications: $2.2 million
- George Bishop of GeoSouthern Energy: $2 million
- J. Joe Ricketts of TD Ameritrade: $2 million
- Chevron: $2 million
- Robinhood Markets: $2 million
- Andrew Beal of Beal Bank: $1.8 million
- Don Ahern of Xtreme Manufacturing: $1.1 million
- Roger Penske of Penske Corporation: $1.1 million
- Steve Wynn: $1.1 million
- Richard Kurtz of The Kamson Corporation: $1.1 million
- Antonio Gracias of Valor Equity Partners: $1 million
- Douglas Leone of Sequoia Capital: $1 million
- OpenAI: $1 million
- ExxonMobil: $1 million
- Amazon: $1 million
- Meta: $1 million
- Uber: $1 million
- Boeing: $1 million
- Qualcomm: $1 million
- Coinbase: $1 million
- Kraken: $1 million
- Galaxy Digital Holdings: $1 million
- Crypto.com: $1 million
- Paradigm Operations: $1 million
- Goldman Sachs: $1 million
- Altria: $1 million
- Pharmaceutical Research and Manufacturers of America: $1 million
- Bayer: $1 million
- Johnson & Johnson: $1 million
- National Association of Manufacturers: $1 million
- AT&T: $1 million
- Comcast: $1 million
- Verizon: $1 million
- Carrier: $1 million
- Intuit: $1 million
- Coupang: $1 million
- GE Vernova: $500,000
- QCells: $500,000
- Ericsson: $500,000
- CoreCivic: $500,000
- GEO Group: $500,000
- Abbott Laboratories: $500,000
- PayPal: $250,000
- HCA Healthcare: $250,000
- Oklo Inc: $250,000
- Coca Cola: $250,000
- American Beverage Association: $250,000
- Syngenta: $250,000
- International Flavors & Fragrances: $250,000
- Elevance Health: $150,000
- American Clean Power Association: $100,000
- Instacart: $100,000
- Airbnb: $100,000
- Socure: $100,000
- Barnes & Thornburg LLP: $100,000
Businesses That Changed DEI Policies Prior to Trump’s Executive Order
Some companies, such as Meta and Amazon, that donated to Trump began scaling back or changing their Diversity, Equity and Inclusion (DEI) initiatives in recent months, a trend that has intensified following his executive order dismantling federal DEI programs.
What People Are Saying
An AT&T spokesperson said in a statement to Newsweek:“AT&T contributed to the 2025 inaugural celebration as we have done for every inauguration for more than three decades, regardless of which party won the White House.”
A Crypto.com spokesperson said in a statement to Newsweek: “We are proud to have contributed to President Trump’s inauguration and to support the inaugural events to swear in the President of the United States, whose administration is focused on advancing innovation in digital assets.”
Ross Allen, an adviser at Chevron, said in a statement to Newsweek: “Chevron has a long tradition of celebrating democracy by supporting the inaugural committees of both parties. We are proud to have done so again.”
A spokesperson for Ericsson said in a statement to Newsweek: “The company contributed to the Presidential Inaugural Committee. The reason for doing so is that Ericsson plays an important role in U.S. society where our high-performing networks provide connectivity for millions of Americans every day. Ericsson’s participation in inaugural activities, along with many other corporate representatives across technology, telecommunications, and other industries, underscores our commitment to the U.S. market. As our business and U.S. investments have grown, including with the establishment of the U.S. 5G Smart Factory in 2020 and the launch of Ericsson Federal Technologies Group, Ericsson U.S. has increased participation and activity in Washington D.C. with the aim of building awareness of Ericsson’s key role as a technology leader headquartered in Plano, Texas.”
Erin Streeter, the executive vice president of external affairs of National Association of Manufacturers, said in a statement to Newsweek: “Manufacturers have always been present at pivotal moments in history, helping to build a stronger and more prosperous America. President Trump has placed an unprecedented focus on growing manufacturing, recognizing the industry’s essential role in driving economic growth and job creation. We look forward to working with his administration to advance policies that strengthen manufacturing competitiveness and ensure the success of the men and women who make things in America.”
In a previous statement, Mary Elizabeth Taylor, Vice President of Global Government and External Affairs for Robinhood, said: “Robinhood is pleased to welcome in a new era of American innovation and sensible regulation that promotes free markets, investor access and consumer choice. We look forward to working with President Trump and the incoming Administration to drive positive change in the markets, be an active voice for customers and pursue our mission to democratize finance for all.”
In a previous statement, Anthony Pratt of Pratt Industries said: “As I’ve said many times before, President Trump was a great president and will once again be a great president.”
Pratt added, “I’ve been proud to support him not only by making this donation, but also by investing billions in well paying American manufacturing jobs during his first presidency.”
What’s Next
Major American companies may continue to support Trump as his favorability continues to rise. A recent Gallup poll found that Trump’s approval rating has increased, with voters citing his economic policies and immigration stance as key factors.
In states such as New York, where his approval had previously been low, polls now indicate a record-high favorability rating, driven in part by strong backing from business leaders and key industries.
