Washington, D.C. — A new analysis from the Center for American Progress offers fresh data that show how big donors supporting President Donald Trump and his causes are reaping billions in financial benefits, plum government positions, or other rewards.
The return for these backers includes lucrative government contracts, dropped investigations, criminal pardons, regulatory rollbacks, and massive merger and deal approvals. Topping the list of beneficiaries are companies in the crypto/digital finance and fossil fuel industries.
“It has long been clear that money buys influence with government officials,” said Devon Ombres, senior director for courts and legal policy at CAP and co-author of the report. “But the Trump administration has taken this apporach to a whole new level, seemingly putting the interests of the rich and powerful far above those of the American people.”
Among the findings:
- More than 75 people and entities have contributed nearly $1.7 billion to President Trump’s political operations, personal projects, inauguration, White House East Wing ballroom, and family-owned companies. These individuals and entities have reaped or will reap benefits conservatively estimated at more than $182 billion.
- Individuals and entities related to 12 crypto and digital finance firms donated more than $161 million to Trump-affiliated political entities, projects, and businesses and have seen dropped lawsuits and investigations that could have cost the companies an estimated $222 million in potential fines and disgorgements on the low end—and $1.9 billion on the high end.
- Eleven entities and individuals in the fossil fuel industry have donated approximately $65 million to Trump-affiliated political entities, projects, and businesses, reaping a conservative $31.2 billion in benefits from Trump administration policies.
- Three corporations that donated a total of $3 million to Trump-affiliated entities and activities benefited from the administration’s decisions to drop enforcement actions that could have resulted in an estimated more than $500 million in penalties. If companies owned by Elon Musk are included, as well as his political spending, the benefits from dropped enforcement actions leap to nearly $3 billion in potentially avoided penalties, if liability were found.
Read the report: “Tracking the Return on Investment of Trump’s Backers” by Devon Ombres, Ryan Koronowski, Will Ragland, and Jackie Lewis
For more information or to speak with an expert, please contact Sam Hananel at [email protected].