Trump’s ballroom fundraising taps cash from crypto, tech Allies
Sign up now: Get ST's newsletters delivered to your inbox
Demolition began this week to replace the East Wing of the White House with the ballroom.
PHOTO: REUTERS
Follow topic:
WASHINGTON - President Donald Trump is constructing a US$300 million (S$389.6 million) White House ballroom with the force of a political campaign, tapping his former campaign finance director to raise money for the high-profile but controversial project.
Ms Meredith O’Rourke and her team have fanned out across Washington to solicit donations from the executives and corporations that funded Mr Trump’s 2024 campaign and inauguration, according to people familiar with the effort.
She has connected with Republican lobbyists and their corporate clients to tout the opportunity to donate to a project the president has described as his gift to the country.
The White House has provided few financial details on the effort and Ms O’Rourke didn’t respond to a request for comment.
At a fundraising dinner on Oct 15
The ballroom donors so far include some of the largest tech companies in the world – Amazon.com, Microsoft, Alphabet’s Google, and Meta Platforms – as well as major crypto firms like Coinbase, Ripple Labs and Tether Holdings, according to the White House.
Other contributors include longtime donors of Mr Trump’s like billionaires Steve Schwarzman and Miriam Adelson.
The checks are going to the Trust for the National Mall, a nonprofit partner of the National Park Service that helps restore and preserve historic landmarks.
The charitable organisation doesn’t have to disclose the names of its contributors, who are eligible for a tax deduction. The trust said its role is to manage private donations for the project.
Many of the companies donating to the White House ballroom have business before the government, ranging from major contracts and regulatory matters to ongoing Justice Department lawsuits and unapproved mergers.
“This is the pay-to-play room,” said Mr Richard Painter, who served as the chief White House ethics lawyer under former President George W. Bush. “These companies want government contracts and regulatory concessions.”
White House Press Secretary Karoline Leavitt dismissed those allegations. “The same critics who are wrongly claiming there are conflicts of interests would complain if taxpayers were footing the bill,” she said, adding that the donors come from a wide array of American companies who are giving to improve the White House for years to come.
None of the companies have publicly disclosed how much money they are giving to the effort. T-Mobile US in a statement confirmed it donated money to the Trust for the National Mall, but said it does not have a role in how those funds are used or what happens with the ballroom.
A Coinbase spokesperson confirmed the company gave money to the nonprofit. Microsoft confirmed it contributed money to the ballroom project, and Meta said it does not have “specifics” to share.
Defence company Lockheed Martin said it is “grateful for the opportunity to help bring the president’s vision to reality and make this addition to the people’s house, a powerful symbol of the American ideals we work to defend every day.”
The other companies did not respond to requests for comment.
“I have so many friends, and so many of you have been really, really generous,” Mr Trump told the Oct 15 White House dinner to celebrate the ballroom project. “I mean, a couple of you, I’m sitting here saying, ‘Sir, would US$25 million be appropriate?’ I said, ‘I’ll take it.’”
Demolition began this week
Starting with the major tech CEOs standing with Mr Trump at his inauguration
Apple, maker of the iPhone, benefited from Mr Trump’s decision in April to exempt smartphones and other electronics from his tariffs but still faces an antitrust case.
The Federal Trade Commission, meanwhile, has sued Meta
“Big Tech CEOs have bought themselves a seat at Trump’s table, and they’re paying for the renovation of that table with multi-million-dollar checks,” said Ms Sacha Haworth, executive director of the Tech Oversight Project. “Make no mistake about what’s happening: Apple, Meta, Amazon, and Google are bankrolling pageantry and luxury for an administration that’s making a mockery of ethical standards and policymaking for the people.”
Google gave US$22 million to the Trust
That was more than double the US$9.4 million in donations the Trust reported for 2024.
Several of the companies have mergers pending before the government, including Comcast, which is weighing a bid for Warner Bros. Discovery, and Union Pacific, which is seeking to merge with Norfolk Southern.
Booz Allen Hamilton, another donor, has been laying off workers as the government significantly pares back its spending on consulting services.
Coinbase, Ripple and Tether are lobbying lawmakers to pass market-structure legislation that would benefit the crypto industry. The digital assets lobby played a huge role in the 2024 elections, donating millions to key races across the country.
Meanwhile, defence giants and startups alike donated to the effort. Legacy defense companies are wrangling with new players like Palantir Technologies for billions over billions of dollars in contracts. Lockheed Martin and Palantir both gave money to the ballroom. BLOOMBERG
