Donald Trump Inauguration Bankrolled By Corporate Giants

WASHINGTON — Sheldon Adelson, the casino magnate and stalwart Republican donor, gave $5 million to support the festivities surrounding President Trump’s inauguration.

The gift was the largest single contribution ever given to an inauguration, but far from the only seven-figure check deposited by the committee responsible for carrying out much of the pomp leading up to Trump’s swearing in.

A 510-page disclosure report filed with the Federal Election Commission on Tuesday shows more than two dozen million-dollar checks from corporations and wealthy individuals, including Robert Kraft, the owner of the New England Patriots and a close friend of Trump’s; Steven Cohen and Charles Schwab, both billionaire investors; and Robert Parsons, the founder of GoDaddy.com.

In previous inaugurations, individuals were only allowed to make contributions up to $250,000.

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Altogether Trump raised $107 million for his inauguration, twice the previous fundraising record, which was set by former President Barack Obama in 2009.

The inaugural committee announced its fundraising total on Tuesday, but because it filed its report by hand, the document was not publicly available until Wednesday.

Some of the biggest checks came from corporate executives and businesses who would soon have major interests at stake under a Trump administration, from the energy sector to Wall Street. Other big contributions came from donors or interest groups who had held their noses when Trump won the Republican nomination — or even staunchly opposed him.

Their money flowed despite Trump’s promises to “drain the swamp” of Washington corruption and influence peddling that have shown little sign of abating in the first months of his presidency.

Trump’s inaugural committee is not required to report how it spent money on his inauguration festivities, which included more than 20 events and drew modest crowds. Nor do the documents reveal if any money was were left over after the crowds returned home.

Because inaugural committees face few of the regulations that limit campaign fundraising, it has traditionally been up to each administration to set its own restrictions.

Nicholas Fandos is a New York Times writer.

Source : http://www.sfgate.com/nation/article/Trump-s-inauguration-was-bankrolled-by-11084298.php

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