Sen. Elizabeth Warren (D-MA) is demanding answers from several major tech and media companies after up to $63 million connected to President Donald Trump’s future presidential library flowed into a nonprofit fund that was later dissolved.
The money came from legal settlements between Trump and companies, including ABC News, Meta, X, and Paramount.
Lawmakers say the payments were supposed to support a future presidential library tied to Trump’s legacy, but the nonprofit created to receive the money no longer exists.
“The Fund is now gone, and the public has no clarity about the current location or purpose of the funds provided,” wrote Sen. Elizabeth Warren (D-MA), Sen. Richard Blumenthal (D-CT), and Rep. Melanie Stansbury (D-NM) in letters sent to the CEOs of ABC News, Meta, X, and Paramount.
Warren Questions What Happened To $63 Million
The three lawmakers sent letters to executives at ABC News, Meta, X, and Paramount asking for details about the settlement payments and where the money ultimately ended up.
They say the companies agreed to large financial contributions as part of settlements with Trump after the 2024 election.
Those contributions were directed to a nonprofit called the Donald J. Trump Presidential Library Fund.
That organization was created to receive donations for a future presidential library and museum dedicated to Trump’s presidency.
However, the nonprofit was later dissolved, and lawmakers say there has been no public explanation about where the settlement funds went.
Warren also raised the issue publicly on X, writing:
“These companies all settled lawsuits with Donald Trump by promising to donate as much as $63 MILLION to his presidential library. But then, Trump dissolved a library fund. So where’d the money go? I’m pressing these CEOs for answers.”
ABC, Meta, X, And Paramount Settlements
According to the lawmakers, several major companies agreed to provide funding tied to Trump’s presidential library as part of legal settlements.
ABC News reached one of the largest agreements. On Dec. 13, 2024, the network agreed to pay $15 million to settle a lawsuit with Trump, who at the time was president-elect.
The settlement agreement stated that the payment would be made as a charitable contribution “to a Presidential foundation and museum to be established by or for” Trump.
Soon after the ABC agreement, the Donald J. Trump Presidential Library Fund was incorporated to receive donations connected to the presidential library project.
Meta and X later reached similar settlements with Trump, and Paramount also agreed to provide funds connected to the presidential library effort.
Lawmakers say the combined value of the settlements from those companies could total as much as $63 million.
At the time, the nonprofit said its purpose was “preserving and stewarding the legacy of President Donald J. Trump and his presidency.”
Nonprofit Status And Possible Tax Deductions
The structure of the nonprofit has also drawn scrutiny from lawmakers.
In early 2025, the organization amended its structure to qualify as a 501(c)(3) charitable nonprofit.
That designation allows organizations to receive tax-deductible donations and operate without paying federal income taxes.
Because some of the settlement payments were structured as charitable contributions, the companies may have been able to deduct those payments from their taxes.
Lawmakers said the lack of transparency raises concerns if the funds did not ultimately remain within a qualifying charitable entity.
“It is unclear where this money has gone, exacerbating concerns about corruption that were raised at the time of the settlement[s],” they wrote.
Library Fund Dissolved In 2025
The Donald J. Trump Presidential Library Fund stopped operating in 2025.
In September 2025, Florida’s Department of State administratively dissolved the nonprofit after it failed to submit a mandatory annual report.
On Dec. 29, 2025, the fund’s incorporator filed formal articles of dissolution.
Before the dissolution, the fund may have received as much as $63 million tied to settlements from ABC News, Meta, X, and Paramount.
However, lawmakers say there has been no public disclosure explaining whether the money was transferred to another nonprofit, returned to donors, or placed into another entity tied to Trump’s future presidential library.
A second nonprofit, the Donald J. Trump Presidential Library Foundation, was later created with a similar mission of supporting a presidential library and preserving Trump’s legacy.
That organization was established by a different incorporator.
It remains unclear whether any of the settlement funds were transferred to that entity.
Lawmakers Demand Answers From CEOs
Warren, Blumenthal, and Stansbury asked the companies to explain the original terms of their settlement agreements with Trump.
Specifically, they requested details about how much money each company contributed, how the payments were structured, and what happened to the funds after the nonprofit receiving them was dissolved.
They also asked whether the companies were aware that the fund would eventually be closed and whether they received confirmation about the final destination of the money.
The lawmakers gave the companies until Mar. 23, 2026, to respond.
For Warren, the issue comes down to a basic question about transparency and accountability surrounding tens of millions of dollars tied to Trump’s presidential library plans.
“The Fund is now gone, and the public has no clarity about the current location or purpose of the funds provided by ABC or any other source,” the lawmakers wrote.
IMAGE CREDIT: “Elizabeth Warren” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.