American Political Money: Donations for Position Appointment

The incoming U.S. president can accept donations from domestic individuals and enterprises through the Inaugural Committee. The Federal Election Commission (FEC) reviews and publicly discloses the materials within 90 days after the inauguration ceremony. The funds raised will be used for memorial projects such as libraries and museums after the end of Trump's term.

On April 21, FEC data showed that Trump, as the incoming president, raised a total of $239 million, setting a historical record. Large technology companies such as Amazon, NVIDIA, Google, Meta, as well as Perplexity AI, Micron, Qualcomm, etc., each donated $1 million. Tim Cook, CEO of Apple, and Sam Altman, CEO of OpenAI, each donated $1 million in their personal capacity. It may be due to this reason that during Trump's inauguration ceremony held at the Capitol on January 20, many senior executives from large technology companies were present, with seats ahead of pre-designated officials, causing quite a stir. Additionally, Robinhood, a retail stock trading platform, donated $2 million, while cryptocurrency companies Coinbase and Solana each donated $1 million.

In terms of Wall Street, JPMorgan Chase, BlackRock, The Blackstone Group, private equity firm KKR, investment bank Goldman Sachs, etc., each donated $1 million. Large telecommunications companies such as AT&T, Comcast, and Verizon, which are significantly affected by government regulatory policies, also donated $1 million each. Chevron donated $2 million, while energy companies ExxonMobil and Occidental Petroleum, as well as pharmaceutical companies Merck and Pfizer, each donated $1 million. Personal donors also contributed continuously; Miriam Adelson, widow of Sheldon Adelson, a casino tycoon closely associated with Trump, donated $1 million. Jared Isaacman, appointed by Trump as head of NASA, donated $2 million, Linda McMahon, appointed as Education Secretary, donated $1 million, Treasury Secretary Scott Bessen donated $250,000. Cantor Fitzgerald, an investment bank founded by Commerce Secretary Howard Rutnik, donated $1,047,000 in memory of "the 47th President Trump."

Source: Chosun Ilbo

Original Article: https://www.toutiao.com/article/1830118433016832/

Disclaimer: This article solely represents the author's viewpoint.