News/Commentary

Times are a’changing: Top automakers to donate $1M to Trump inauguration

December 24, 2024 | | Print Article

President-elect Donald Trump’s election victory has major tech companies flocking to his side with donations and meetings ahead of his inauguration.

Now, even car companies seem to be getting on the Trump Train as Ford Motor Company said it will donate $1 million to Trump’s January inauguration. General Motors will reportedly be doing the same and both companies will be donating a fleet of vehicles for use at the event. And on Tuesday, a company spokesman announced that Toyota Motor of North America is also donating $1 million.

“Policies on tariffs and electric vehicles that are being considered by the incoming administration would likely affect Detroit carmakers, including Ford and GM. The companies have yet to achieve profits on EVs as sales, while growing, have lagged projections,” the Detroit Free Press reported.

“Republican Trump has threatened significant tariffs on imports from Mexico and Canada, as well as killing an EV tax credit that benefits the two automakers,” the outlet added.

CEOs of both companies are hoping to get Trump’s ear about planned actions and their thoughts on manufacturing.

“(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,” Ford CEO Jim Farley told reporters this month.

Ford donated $250,000 to Trump’s 2017 inauguration fund which ended up raising a stunning $106.7 million total. In contrast, President Joe Biden raised $61.8 million for his 2021 inauguration. Companies such as Pfizer, AT&T, and Boeing contributed to the Democrat’s inaugural fund that year.

Other companies have come forward to support the incoming 47th president despite past rhetoric and the defeat of Democrat darling nominee,  Kamala Harris.

The CEO of OpenAI, Sam Altman, said last week that Trump “will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead.” He has donated to Democratic candidates since 2013 but is now giving $1 million to Trump’s inaugural fund.

AI search startup Perplexity will donate $1 million to the inaugural fund. It’s also providing a free version of its premium software to “be a good partner to the administration,” according to Chief Business Officer Dmitry Shevelenko. Because the company did not exist during Trump’s first term, it is “just interested in creating the relationship rather than repairing a damaged relationship,” Shevelenko noted.

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Amazon and Meta each announced $1 million donations after Amazon gave only $276,000 to Biden’s 2021 inaugural committee. Trump’s 2017 inauguration fund saw $58,000 in cash and in-kind donations from Amazon while Meta did not donate at all in 2017, nor did the company donate to Biden in 2021.

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Frieda Powers
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