In 1997, former US President Bill Clinton established a strict limit of $100 for individual campaign contributions, with the aim of regulating political financing. His successor, George W. Bush, had considerably increased these limits, allowing contributions of up to $100,000 in 2001, then to $250,000 in 2005.
By contrast, in 2021, President Joe Biden took a different direction by banning contributions from lobbyists, as well as those from fossil fuel companies and their executives. In 2009, President Barack Obama also tightened the rules, banning contributions from corporations, political action committees, unions and lobbyists, while capping individual contributions at $50,000. However, during his second inauguration in 2013, Obama lifted some of these restrictions, which did not prevent fundraising that was $8 million lower than in 2009.
“There’s no point!!!”: Trump takes credit for $100,000 bitcoin
Unlike his predecessors, Donald Trump reached an unprecedented milestone for his second inauguration, raising funds that exceed those raised during his first ceremony in 2017 by nearly $100 million. No limit was imposed on the amounts or the nature of donors, thus encouraging a massive influx of contributions. This enthusiasm among business leaders is largely explained by their desire to gain influence with future decision-makers in the Trump administration.
-Technology giants stand out, once again, among the most prominent donors of the year, according to an analysis by the democratic think tank Public Citizen, cited by several press articles. Unsurprisingly, Amazon and its founder, Jeff Bezos, top the list. For his part, Mark Zuckerberg, the founder of Meta, is not left out. He would thus have contributed financially, despite the threats of imprisonment made against him on several occasions by the future president.
In addition, the cryptocurrency sector, which was particularly dynamic throughout the campaign, also got involved. Brad Garlinghouse, CEO of Ripple, told the New York Times his intention to donate $5 million in XRP, the cryptocurrency developed and managed by his company. The projections also place Robinhood Financial second in the donor rankings. The company has bet on the cryptocurrency sector in recent months and had the sagacity to enlist the services of Brian Ballard, the same lobbyist as Ripple.
Donors, however generous they may be, are not all certain of being able to attend the ceremony, as the enthusiasm is so great. According to the Wall Street Journal“the official inauguration festivities have been sold out since the beginning of January. Some donors who signed six-figure checks asked consultants to help them gain access to the festivities, but had their requests rejected.testify people close to the case.
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