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Trump has raised hundreds of millions since his reelection

Donald Trump
President-elect Donald Trump's inaugural committee has raised at least $150 million, surpassing the $107 million raised for his 2017 inauguration.

Andrew Harnik/Getty Images

  • Trump has raised millions from CEOs and businesses for his inauguration and presidential library.
  • Apple CEO Tim Cook was the latest to contribute, Axios reported.
  • The Times reported that Trump has raised over $200 million since winning a second term.

President-elect Donald Trump will take office in less than three weeks.

In the meantime, he continues to craft his policy agenda and make keyΒ appointmentsΒ for his second administration.

He is also raking in substantial amounts of money.

From Meta and Coinbase to Ford and GM, businesses and CEOs are contributing large sums to Trump's inauguration and future presidential library as the president-elect prepares to enter the Oval Office for a second term.

Apple CEO Tim Cook is the latest to contribute $1 million of his own money to Trump's inaugural committee, according to Axios.

Trump has so far collected a total of at least $200 million, according to The New York Times, which spoke to sources involved in the fundraising. At least $150 million of that will go toward his inaugural, far more than the $107 million he raised for the event in 2017.

The super PAC Make America Great Again Inc. is also set to benefit from the cash infusion, giving Trump's allies a powerful vehicle to boost his conservative plans on everything from tax policy to the environment, as well as the GOP lawmakers who'll back his agenda.

David Tamasi, a Washington lobbyist, waved off the notion that donors were contributing to Trump to stay on his good side. However, he told the Times that some leaders may seek to build rapport after being detached from the president-elect's orbit.

"It is a time-honored DC tradition that corporations are enthusiastically embracing this cycle in all manners, largely because they were on the sidelines during previous Trump cycles," Tamasi said. "They no longer have to hedge their political bets."

There are virtually no limits to contributions for inaugural committees, and corporations have traditionally funded inaugurations regardless of the political party of the incoming commander in chief.

President Joe Biden's inaugural committee raised $63.8 million for his 2021 inauguration, according to FEC filings.

Trump's relationships with many top business leaders became rocky during his first term, namely in the aftermath of the August 2017 Unite the Right rally in Charlottesville, Virginia, where white nationalist groups sparked violent clashes. The January 6, 2021 attack at the US Capitol, days before Trump left office, led several companies to pause financial contributions to GOP politicians who had voted to overturn the 2020 presidential results.

Even during the 2024 presidential campaign, some business leaders stayed out of the political fray, while others, like LinkedIn cofounder Reid Hoffman and Netflix cofounder Reed Hastings, supported Vice President Kamala Harris' presidential campaign.

Read the original article on Business Insider

Kamala Harris' campaign has $1.8 million left in the bank after spending over $1 billion to defeat Donald Trump

Vice President Kamala Harris at Howard University.
Vice President Kamala Harris had no problem raising money during the presidential race.

ANGELA WEISS/AFP via Getty Images

  • The Harris campaign has $1.8 million cash after spending over $1 billion in the 2024 race.
  • Harris continually raked in money during her 107-day presidential campaign against Donald Trump.
  • But Harris could not overcome the headwinds against her party, coming up short in the swing states.

After President Joe Biden stepped aside as the Democratic nominee last summer, the party felt an enormous jolt of energy as Vice President Kamala Harris embarked on a 107-day presidential campaign against Donald Trump.

Throughout her campaign, Harris raised more than $1 billion, a stunning figure that mirrored the quick rise of her campaign.

But Trump, now the president-elect, defeated Harris in the general election, with the vice president coming up short in the swing states.

New federal filings show that the Harris campaign had $1.8 million remaining in the bank after spending over $1 billion against Trump in the presidential race.

In the filings, the Harris campaign also reported that it had no debts.

The filings reveal the pace of spending for the Harris campaign, which began with heightened enthusiasm from Democrats and major donors who had grown despondent over Biden's chances after a disastrous debate against Trump raised questions about his ability to mount a robust reelection campaign.

From October 17 through November 25, which included some of the most frenzied stretches of the campaign through the postelection period, Harris raised $160 million and spent over $270 million. The Trump campaignΒ raked inΒ nearly $87 million during that same periodΒ and spent $113 million, the president-elect's campaign filings indicated.

Harris held large rallies in swing states like Georgia and Pennsylvania throughout her campaign, especially in the immediate weeks leading up to the election. And despite the vice president's financial advantage over Trump, she had to boost her profile to an electorate that had long expected Biden to be the nominee and was uncertain about her positions on various issues β€” from tackling inflation to her approach to foreign policy.

The new FEC report also seemingly puts to rest any talk that the Harris campaign is heavily in debt, a notion that the campaign rejected last month when it told The New York Times that "there will be no debt" on the filings.

But in the weeks since the general election, Democrats have still received fundraising appeals from the Harris operation. The "Harris Fight Fund" is the postelection operation of the general election "Harris Victory Fund" and is touted as a way to help provide accountability for the Trump administration.

The Democratic National Committee's newest filings revealed that it had over $47 million in cash on hand, while its rival, the Republican National Committee, had nearly $43 million in the bank.

Business Insider reached out to the Harris campaign for comment.

Read the original article on Business Insider

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