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Billionaires, companies power Trump's record inaugural haul

Billionaires, companies power Trump's record inaugural haul”

That's according to documents filed with the Federal Election Commission show.

Casino mogul Steve Wynn donated entertainers and production work valued at $729,000 for the Chairman's Ball, where the band Alabama and Wynn's ShowStoppers performed, according to Wynn spokesman Michael Weaver. Adelson's contribution accounted for almost 5% of the record $107m the inauguration fund collected from wealthy donors. "ORCRP010217-topic.html" class="local_link" >JPMorgan Chase and American Financial Group gave $500,000 each.

Sheldon Adelson attending the fourth Annual Champions Of Jewish Values International Awards Gala in New York City, May 5, 2016. Though Trump tapped the ranks of Goldman Sachs for five appointees, the bank didn't make a contribution.

National Football League owners who chipped in $1 million each included Dan Snyder of the Redskins, Stan Kroenke of the Rams, the Patriots' Bob Kraft via the Kraft Group, Bob McNair of the Texans and the Jaguars' Shahid Kahn.

The energy industry was also supportive. Chevron Corp. contributed $525,000, and Exxon Mobil Corp. gave $500,000. Griffin gave the Trump inaugural $100,000.

Trump chose to specially thank Adelson and his wife Miriam - staunch Republicans and major supporters of Israeli Prime Minister Benjamin Netanyahu - at a luncheon honoring congressional Republicans the evening before the inauguration. Nixon has always been critical of the Dodd-Frank financial industry reform law, one that Trump has already ordered the Treasury Department to review. The money paid for 20 events during the extravaganza, but produced excess cash that will be donated in the future to a charity, organizers said.

The committee doesn't need to publicly disclose how the money was spent.

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Trump's team set no limits on what corporations and individuals could contribute to the inaugural committee, which coordinated more than 20 events over six days to mark the arrival of the new Republican president.

For many donors, the inaugural committee represented the last or only chance to get on the Trump bandwagon before he took the oath of office.

As is often the case with campaigns and inaugurations, some of the donations came from people doing business with the federal government. There are no federal limits on how much they can give.

He held three inaugural balls, compared with the 10 that Obama had at his first inaugural. President Barack Obama outright prohibited lobbyists and corporations from donating to his 2009 inauguration and limited individual gifts to $50,000, although in 2013 he limited individual gifts to $250,000 and allowed corporate gifts of up to $1 million.

Several NFL team owners stepped up to write $1 million checks to Trump's committee.

Trump's $107 million fundraising total is "an bad lot of money - it's roughly what we spent on two", said Steve Kerrigan, who was CEO for Obama's inaugural committee in 2013 and chief of staff in 2009. Four years before that, Obama raised more than $53 million, a record at the time.



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