Donald Trump's Inauguration Committee Raised A Record $106 Million, Doubling Obama


The commander in chief raised $107 million for his January 20 swearing-in ceremony, more than doubling the previously record-holding $53 million President Barack Obama raised for his 2009 inauguration, according to Federal Election Commission records made public on Tuesday.

Financial Election Commission disclosures released on Wednesday show that some uberwealthy donors helped Trump defray the cost: million-dollar givers included investment firm founder Charles Schwab, mining entrepreneur Christopher Cline and Bank of America.

The previous high was $53 million for President Barack Obama's first inauguration in 2009.

Twenty-six donors gave at least $1 million to the committee, including a $5 million donation from Las Vegas casino magnate Sheldon Adelson. Depending on the level of contribution, donors gained access to a slate of private events with Trump and his inner circle, as well as special seating for his swearing in and other public events. Health care, energy and beverage companies were among the many businesses giving $250,000 or more.

Trump placed no restrictions on the amount of money donors could give.

Kraft also visited the President-elect in November at Trump Tower in NY. Phil Ruffin, a close Trump friend, donated $1 million, and Steve Wynn, now chief fundraiser for the Republican Party, gave $729,000 through his Wynn Resorts. Clifford Forrest, owner of the Rosebud Mining Co, gave $1 million. AT&T gave $2 million, plus $82,483 in mobile equipment and software.

Donations from foreign nationals are banned. PDVSA recently offered up a almost 50 percent stake in Citgo as collateral for a $1.5 billion loan from Russian firm Rosneft. Delivered at 11 a.m. Monday-Friday. Kerrigan said the inaugural events may have served as an opportunity for donors who held back during the presidential campaign to try to curry favor by showing support for the incoming president. Like Singer, Chicago hedge fund manager Ken Griffin, conspicuously avoided giving money to Trump's campaign during the general election.

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Inaugural committees face few of the regulations that limit campaigns in what they can raise and how they can go about raising it.

Per Wickstrom, CEO of Best Drug Rehabilitation in Battle Creek, chipped in $100,000 on January 19, and Ciena Healthcare Management CEO and President Mohammad Qazi of West Bloomfield Township gave $50,000 on December 2.

Unlike Trump, the 2009 committee did not accept corporate contributions and limited individual donations to a maximum of $50,000.

For Trump, the fast pace of fundraising appears to have continued past Inauguration Day.

Inaugural committees have broad leeway in how they spend their money and what they do with the leftovers, although some limitations apply, according to Fischer.

Trump's inaugural committee said it would "identify and evaluate charities that will receive contributions left from the excess monies raised".