7am

'Everyone wants to be my friend': The people paying millions for access to Trump

Jan 19, 2025

Craig Holman, a Capitol Hill lobbyist for Public Citizen, discusses the astounding $200 million raised for Donald Trump's inauguration, breaking fundraising records. He reveals how billionaires and companies are funding this event not just for the celebration but to gain access to the president. Holman delves into the ethical implications of private donations and how they can influence policy decisions. The conversation also highlights the motivations behind these enormous contributions, particularly from sectors like cryptocurrency and tech.

15:27

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Episode guests

Craig Holman

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Quick takeaways

Trump's record-breaking $200 million inauguration fund reflects a significant influence of wealthy donors seeking intimate access to political power.

Proposed reforms aim to regulate inaugural funding by capping contributions and increasing transparency to curb potential misuse of funds.

Deep dives

Record-Breaking Inauguration Funding

The inauguration fund for Donald Trump's upcoming celebration is expected to reach a staggering $200 million, setting a new record for inaugural fundraising. This amount significantly surpasses the previous record of $107 million from Trump's first inauguration in 2017, as well as the hundreds of thousands raised for former presidents Obama and Biden. The substantial sum reflects an influx of donations from wealthy individuals and corporations eager for access to the incoming administration. However, the rules governing the spending of these funds are lax, allowing for potential misuse without clear accountability on how the money is allocated.

Intro

5min

The Financial Landscape Behind Trump's Inauguration

2min

The Cost of Access: Funding Influence in a Presidential Transition

3min

Examining the Financial Landscape of Presidential Transitions

3min

Wealth and Influence: The Dynamics of Political Access

2min

Donald Trump will be president again by tomorrow, and he says “everybody” wants to be his friend. And while it might not be everybody, plenty do.

Trump’s broken the record for the amount of money that’s been donated to a US presidential inauguration fund, with $US200 million coming in from billionaires and companies all wanting time with him.

These funds are not just for throwing a party. The money can also be used in secretive ways and aren't subject to the same rules as campaign funds.

Today, Public Citizen’s lobbyist on ethics and campaign finance, Craig Holman, on who is giving Trump money, and what they’re getting out of it.

Socials: Stay in touch with us on Twitter and Instagram

Guest: Public Citizen's Capitol Hill lobbyist on ethics, lobbying and campaign finance rules Craig Holman.

See omnystudio.com/listener for privacy information.

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