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Automakers Back Trump’s Inauguration with Million-Dollar Pledges
Clear Facts
- General Motors, Ford, and Toyota have each pledged $1 million for Donald Trump’s upcoming inauguration.
- The automakers join other corporate giants in supporting Trump’s inauguration, despite previous opposition to his actions and policies.
- Trump’s inauguration is expected to surpass the number of megadonors from his 2017 event, which received $107 million in total donations.
In a significant move, major automakers General Motors, Ford, and Toyota have committed $1 million each towards President-elect Donald Trump’s upcoming inauguration. This decision aligns them with a growing list of corporate giants stepping up to support the event.
Toyota, a Japanese company, confirmed its contribution, while Ford and General Motors announced their support earlier this week. These companies face potential financial impacts from tariffs, which Trump has threatened to impose to bolster American interests.
Ford CEO Jim Farley highlighted the company’s significance in the U.S. economy, stating,
“(Given) Ford’s employment profile and importance in the U.S. economy and manufacturing, you can imagine the administration will be very interested in Ford’s point of view.”
The automakers’ backing comes amid a wave of corporate donations, including from companies that previously opposed challenges to the 2020 election and Trump’s actions on January 6, 2021. These include AT&T, Bank of America, and Goldman Sachs, among others.
In 2017, Trump’s inauguration attracted $1 million or more from 18 companies, amassing a total of $107 million. This year, the event is poised to surpass those figures, with more megadonors expected.
Trump’s team is offering incentives to donors who contribute at least $1 million or raise $2 million from others. These perks include tickets to a reception with cabinet picks and a dinner with Trump and his wife, Melania.
Reflecting on the influx of business leaders seeking to meet with him, Trump remarked, “Everybody wants to be my friend,” contrasting it with his first term when “everybody was fighting me.”
Former Republican House Speaker Newt Gingrich attributed this shift to a sense of urgency among the business elite.
“I think the term is ‘panic.’ These guys were all anti-Trump, and they all know he has a great memory, an enormous amount of energy and is quite prepared to go after people who he thinks are a problem,” Gingrich commented.
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