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Corporate donations for President-elect Donald Trump’s inauguration celebration continue to roll in, with Ford being the latest to make an eye-popping, seven-figure donation that signifies the company’s intent to ingratiate itself with the incoming administration.
The Western Journal reported that both Ford and General Motors have made standalone $1 million donations to the Trump inauguration fund, matching donations by dozens of America’s largest corporations including the likes of Facebook, OpenAI, and Amazon, which each gave $1 million. Other notable names such as Goldman Sachs, Robinhood, and Uber have given lesser, though still sizable, sums. In addition to their financial gifts, both automotive companies will provide fleets of vehicles for Trump’s traveling detail on January 20th, 2025.
This isn’t the first time both domestic car manufacturers have given to Trump. In 2017, Ford donated $250,000 for President-elect Trump’s first inauguration while GM contributed $500,000, according to OpenSecrets, and the latest largesse may signal that executives hope to have Trump’s ear when it comes to revamping federal priorities around electric vehicle subsidies and domestic manufacturing. “While inaugural donations from companies are not new, the flood of cash — coupled with meetings with Trump at his Florida residence — signal a shift among companies looking to curry favor with the president as he prepares to take office,” Politico previously reported.
A flock of business leaders have made the pilgrimage to Mar-a-Lago for private meetings with Trump, including Apple’s Tim Cook, or have scrambled to catch the president-elect during his post-election travels. When he appeared on the balcony of the New York Stock Exchange this month to ring the opening bell, senior executives from Visa, Meta Platforms, Goldman Sachs, Charles Schwab and Citadel were present, the Wall Street Journal reported. Many are seeking to find common ground with the populist former president, citing areas like tax and regulatory changes. Other are seeking posts on the bevy of business advisory boards the White House will rely on for advice next year.
Ford CEO Jim Farley told reporters this month he hopes that Trump will listen to him and other industry leaders who fear that Trump’s long-promised elimination of subsidies for electric vehicles will wreak havoc on an industry still finding its footing after years of supply chain disruptions from the pandemic. “(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,” Farley said, Reuters reported.
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