Trump inaugural committee raised record $106.7M

Casino mogul and frequent GOP donor Sheldon Adelson donated $5 million, the report says.
By Ed Adamczyk  |  April 19, 2017 at 12:46 PM
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April 19 (UPI) -- President Donald Trump's inaugural committee raised a record $106.7 million for festivities, much of it from corporations, a required filing indicated.

The figure was twice the previous record of $53 million raised to celebrate former President Barack Obama's 2009 inauguration.

Information filed Tuesday with the Federal Election Commission showed that Sheldon Adelson, casino magnate and frequent Republican donor, contributed $5 million. New England Patriots owner Robert Kraft contributed $1 million and Steve Schwatzman, CEO of the investment firm Blackstone Group, contributed $250,000.

The 510-page disclosure document showed that more than two dozen individuals, corporations and lobbying groups made million-dollar donations. Although inaugural committees deal with fewer regulations than those engaged in campaign fundraising, Obama's 2013 inaugural committee capped individual contributions at $250,000.

Depending on the level of contribution, donors obtained access to private events with Trump, as well as special seating for his swearing-in and other public events. The report is likely to intensify questions about Trump's commitment to the populist ideas he expressed during his campaign, The New York Times said.

Trump's inaugural committee is not required to itemize how the funding, for about 20 events, was spent. The committee said Tuesday it would donate any unspent money to charities, without revealing how much money is available, or the charities selected.

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