Topline
Google has become the latest tech industry giant to donate $1 million to President-elect Donald Trump’s inauguration, Politico reported Thursday, joining several other companies and billionaires seeking to strengthen their relationship with the incoming president by contributing to a record-high inaugural fund that has reportedly raised more than $170 million so far.
A sign is outside of Google’s Bay View campus on June 16, 2022 in Mountain View, California.
Key Facts
Google joins several other large companies and founders in cutting big checks to Trump’s inauguration fund, including Apple CEO Tim Cook, who last week said he would personally donate $1 million (Apple itself is not expected to make any donations).
Ford Motor Co., which stands to be impacted by Trump’s stances on electric vehicles and proposed tariffs on imports from Mexico and Canada, last month said it would donate $1 million and a “fleet” of vehicles for use during the inauguration.
Sam Altman, CEO of OpenAI, announced his own $1 million donation last week, saying Trump “will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead.”
Amazon said it is also giving a $1 million in-kind donation by streaming the event on Amazon Video, and AI search startup Perplexity will also donate $1 million to the inaugural fund, along with giving the administration a free version of its premium software in an effort to “be a good partner to the administration,” chief business officer Dmitry Shevelenko told Bloomberg.
Ford Motor Co. also donated $250,000 to Trump’s 2017 inauguration fund, Amazon gave $58,000 in cash and in-kind donations to that year’s event and Meta did not donate to Trump’s first inaugural fund in 2017, nor President Joe Biden’s in 2021.
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How Much Has Been Donated To Trump’s Inaugural Fund?
More than $170 million, according to ABC News, which is almost three times as much as the $62 million raised by President Joe Biden four years ago and well above the previous record of $107 million, set by Trump’s 2016 inauguration.
Are Companies Allowed To Donate To Trump’s Inaugural Fund?
Yes. The Federal Election Commission states corporations and labor organizations are allowed to make donations to an inaugural committee and contributions are not subject to any limits. The inaugural committee has to file a report with the FEC detailing donations by the 90th day after the inauguration.
What Does The Inaugural Fund Do?
After the election, an inaugural committee is appointed by the president-elect and it is responsible for planning the inauguration ceremony and activities connected with the ceremony, according to the FEC. The inaugural committee plans and finances inaugural events—save for the swearing-in ceremony at the Capitol and a luncheon—that it wants to host, including opening ceremonies, parades, galas and balls.
Key Background
The slew of donations from tech companies comes as executives are working to repair or build relationships with Trump ahead of his second term in the White House. Trump has been openly critical of a number of tech executives—including Bezos and Zuckerberg—and tech companies, especially after being removed from some social media platforms in the wake of the Jan. 6, 2021, riot. Bezos posted on X, formerly known as Twitter, for the first time in nearly a year after the first assassination attempt on Trump earlier this year, saying the then-candidate “showed tremendous grace and courage under literal fire tonight. So thankful for his safety and so sad for the victims and their families.” After Trump won, Bezos congratulated him on “an extraordinary political comeback and decisive victory.” When Zuckerberg met with Trump last month, a Meta spokesperson said the CEO was “grateful for the invitation to join President Trump for dinner and…meet with members of his team about the incoming administration,” and a Trump aide told Fox Zuckerberg saw Trump as an “agent of change and…prosperity.” Altman and OpenAI haven’t faced direct criticism from Trump and said recently he is “not that worried” about the influence billionaire Elon Musk—who is currently suing Altman—may have on the Trump administration.
Forbes Valuation
Forbes’ estimates the co-founders of Google, Larry Page and Sergey Brin, to be worth $159.7 billion and $152.5 billion, respectively, making them the sixth and seventh richest people in the world. We estimate Bezos has a net worth of about $236 billion, making him the second wealthiest person in the world, and Zuckerberg has a net worth of about $211.1 billion, making him the third wealthiest person. Tim Cook is worth an estimated $2.3 billion and Altman has a net worth of $1.1 billion as of Thursday afternoon.