A new investigation from The New York Times found that nearly 200 of the biggest donors to President Donald Trump’s post-election fundraising efforts have benefited from his administration’s decisions.
The report analyzed over $500 million in donations from 346 individuals and companies that gave at least $250,000 each after Trump returned to the White House.
The Times identified at least 197 donors who either personally gained or work in industries that have profited from Trump administration policies, including pardons, favorable regulations, government contracts, ambassadorships, and access to the president himself.
White House spokeswoman Liz Huston defended the president, saying:
“President Trump’s only motivation as the president of the United States is improving the lives of the American people and making our country greater than ever before.”
Donors, she said, “should be celebrated, not attacked.”
Fundraising on a Historic Scale
Since winning re-election, Trump and his allies have raised close to $2 billion for projects and political groups he supports.
That amount, confirmed by insiders involved in the fundraising, likely surpasses what was raised for his 2024 campaign.
Unlike previous presidents who typically dial back fundraising in a second term, Trump ramped it up.
According to the Times, donors were invited to give to a buffet of organizations, including MAGA Inc., the Trust for the National Mall, America250, and the White House Historical Association.
These groups are presented as Trump-endorsed causes, even if some are technically nonpartisan.
Meredith O’Rourke, Trump’s campaign finance director, leads the effort.
Four people familiar with the operations told the Times that Trump regularly debriefs with her and personally tracks who gave what.
Money and Access Go Hand in Hand
Many donors gained proximity to Trump and his inner circle, including dinners at the White House and travel abroad.
Jensen Huang of Nvidia, Lisa Su of AMD, and Tim Cook of Apple are among CEOs who appeared repeatedly at presidential events.
At a thank-you dinner in October for donors to his ballroom project, Trump said, “So many of you have been really, really generous.”
He also praised defense contractors in the room, calling the U.S. “the greatest manufacturer of weapons.”
Others received more direct benefits. At least 32 donors or their relatives were appointed ambassadors.
For example, Howard Brodie, now U.S. ambassador to Finland, is the son of donors who gave to Trump’s inauguration, MAGA Inc., and the ballroom project.
The Times listed at least 15 countries where major donors were nominated as ambassadors, including the United Kingdom, Spain, Singapore, and Argentina.
Legal Perks and Contracts
Some donors also saw legal outcomes shift in their favor.
Timothy Leiweke, co-founder of Oak View Group, donated $250,000 to Trump’s inauguration before being indicted in an antitrust case. Trump pardoned him before trial.
Elizabeth Fago donated $1 million to MAGA Inc. and attended a donor dinner. Less than three weeks later, Trump pardoned her son, who had been sentenced to 18 months in prison for tax crimes.
A $2.5 million MAGA Inc. donor, Isabela Herrera, made her contribution while her father faced federal charges for bribery.
He later received a lenient plea deal approved by senior Justice Department officials, over the objection of prosecutors.
Palantir Technologies, a government contractor, donated $10 million to the White House ballroom and another $5 million to America250.
Its CEO, Alex Karp, gave $2 million more. Since Trump returned to office, Palantir has received hundreds of millions in federal contracts.
Crypto, Tech, and Industry Wins
Trump also took actions that favored entire industries. The SEC dropped lawsuits against Coinbase, Kraken, and Ripple after each donated $1 million or more.
Robinhood, which gave $2 million, also saw an SEC investigation end.
Meta, Google, and Apple each gave at least $1 million. Days after the inauguration, Meta settled a lawsuit by donating $22 million to Trump’s library foundation.
Google made a similar deal. Meta also donated $2.5 million to the ballroom fund and another $200,000 to sponsor the Easter Egg Roll.
Trump also rolled back cannabis restrictions after receiving donations from marijuana industry players, including $1 million from American Rights and Reform PAC and $750,000 from Trulieve.
Fossil fuel firms, private equity companies, and defense contractors like Lockheed Martin and Boeing also saw favorable regulatory treatment. Each gave millions to Trump-endorsed causes.
Critics Say It Resembles Pay-to-Play
While The Times did not find definitive evidence of quid pro quo, the pattern raised concerns about influence and favoritism.
One former Trump aide turned lobbyist, Harrison Fields, said: “In this town, money talks, and that is going to give you an opportunity to at least have a seat at the table.”
Despite Trump’s past claims that he couldn’t be influenced by big donors, his second-term fundraising suggests otherwise.
With new initiatives like Freedom 250 already launching, the donation-driven apparatus around Trump shows no signs of slowing down.
IMAGE CREDIT: “Donald Trump” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.