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Donating to the inauguration is a last-minute chance for tech moguls to make a big splash with Trump

Dec 15, 2024 - businessinsider.com
Big Tech companies and their CEOs, including Amazon, Sam Altman, and Meta, are preparing to make substantial donations to Donald Trump's inauguration, with each reportedly ready to contribute $1 million. Inaugural donations have few restrictions, allowing corporations to potentially curry favor with the incoming administration. This practice is seen as a strategic move to gain influence, especially since Trump's term will be limited, and future opportunities for such donations may be scarce. Historically, companies that contributed to Trump's 2017 inauguration benefited from federal contracts, highlighting the transactional nature of these donations.

Tech companies like Amazon, Google, and Meta are under scrutiny for antitrust concerns and past political controversies. CEOs like Jeff Bezos and Mark Zuckerberg have taken steps to mend relationships with Trump, while Sam Altman has expressed support for Trump's leadership in AI. The lack of limits on inaugural donations contrasts with past presidents like Obama, who imposed voluntary restrictions. The article suggests that Trump's inauguration presents a significant opportunity for corporations to align with the administration and protect their interests in a potentially transactional political environment.

Key takeaways:

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  • Big Tech companies like Amazon, Meta, and OpenAI are planning to make significant donations to Donald Trump's inauguration, with each reportedly contributing $1 million.
  • There are minimal restrictions on inaugural donations, allowing corporations to donate large sums without the uncertainty present in campaign financing.
  • Donations to inaugural committees can lead to substantial benefits, as seen in 2017 when many federal contractors who donated received lucrative government contracts.
  • Tech companies such as Amazon and Meta are under scrutiny for past actions and are using donations as a means to improve relations with the incoming administration.
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