Billionaire backers rally around Trump: Power and influence
At Donald Trump's inauguration, Elon Musk, Jeff Bezos, and Mark Zuckerberg will be present, among others. Even though the wealthiest Americans' elite includes former critics of the new president's actions, they donated millions for the inauguration. What is at stake in this game?
"Everyone wants to be my friend!" wrote Donald Trump in late December on his platform, Truth Social.
Indeed, the list of people declaring their support for the 47th President of the United States is significantly growing. During his previous term, Trump had a "bone to pick" with Jeff Bezos, accusing him of monopolistic tendencies. Just a day before this post, the two had dinner together.
A similar evolution can be seen in Trump's relations with Mark Zuckerberg. The head of Meta blocked the Republican on Facebook and Instagram in January 2021 after he spoke warmly about the storming of the Capitol.
The new US president did not remain silent. In posts published on Truth Social, he warned the Facebook creator that after coming to power, he would handle election fraudsters. - They will be sent to prison for a long time. We already know who you are. Don't do this! Zuckerbucks, be careful - Trump directly addressed Mark Zuckerberg.
Currently, relations between the two men are quite different. Zuckerberg allocated 1 million dollars to the fund dedicated to the inauguration of the presidency. He also placed a close associate of Trump, Dana White, on Meta's board.
No one did as much during the past election campaign as Elon Musk. The mastermind behind Tesla attended Trump rallies, played golf with him, and tried to garner voters. According to the Federal Election Commission, this support in the battle for a second term cost the billionaire hundreds of millions of dollars.
Alongside the mentioned trio, whose wealth is estimated at about 900 billion dollars, the inauguration will also be attended by the CEO of OpenAI, a leading figure in artificial intelligence development - Sam Altman. The inauguration was also financially supported by Miriam Adelson, widow of the co-founder of the gambling giant Las Vegas Sands Corporation.
The list of donors also includes, among others, Tilman Fertitta (owner of casinos and numerous hotels) and Todd Ricketts, co-owner of the Chicago Cubs baseball team and one of the main "treasurers" of funds for politicians from the Republican Party. His family's fortune is estimated at over 3 billion dollars.
What access to the president's ear provides
Why are the wealthiest citizens of the USA so eager to gain the new president's favor? According to New Yorker journalist Susan Glasser, relations with Donald Trump take on a very "transactional" nature. In an interview with NPR24, Glasser recounted a story that was said to have taken place during the previous presidency - in 2017.
At the White House, Nelson Peltz, a shareholder in Procter & Gamble, appeared. - He seemed to believe that Amazon, which at the time was in the process of finalizing the purchase of Whole Foods, would pose a threat to this business - Glasser said.
According to the journalist's account, Peltz suggested to Trump that he should initiate an antitrust investigation into Amazon because the platform was undercutting rates and causing the American postal service to go bankrupt.
- There is no evidence for this, but Trump seemed to adopt this idea and later publicly tweeted about it repeatedly - the New Yorker author recalled.
The journalist interprets this story as evidence that Trump provided extraordinary access and privileges to "some of his billionaire friends".
- They hope to have some influence over the course of appointments, and consequently on the direction of his administration - Glasser heard last year from one of the participants in a fundraising event for Trump.
What does the "big three" hope for?
Observers of the American political scene notice that each donor stands to gain for their interests. According to "Financial Times," Musk primarily wants to influence regulations favorable to his companies. Let's recall that the billionaire is currently working on Tesla's autonomous electric cars, Starship rockets, and the Neuralink chip, which is meant to enable control of electronic devices with thoughts.
Musk would also become the co-chair of the "Government Efficiency Department." According to Rolling Stone, the government position would allow him to benefit from tax breaks available to federal officials.
At the same time, Zuckerberg may be seeking support from the new US administration in the conflict with the European Union regarding content moderation on social media. Jeff Bezos has openly admitted that he hopes Donald Trump will reduce government regulations imposed on business. - If I can help with that, I'll do it - the head of Amazon declared.
Donald Trump's cabinet
The influence of billionaires on the new US administration will not only be informal. Many of them will also be in Donald Trump's cabinet.
According to an ABC television report, 13 billionaires and millionaires will be appointed to the new president's administration. The combined wealth of Trump's ministers exceeds that of Joe Biden's administration members by 60 times - American media noted.
Among the wealthiest people influencing US politics is Scott Bessent, head of an investment fund. He is to take the position of Treasury Secretary. Also taking significant positions will be Howard Lutnick (future Secretary of Commerce responsible for tariffs, for example), who works in the financial services sector, and "Minister" of Education Linda McMahon, who, along with her husband, ran a company organizing television shows related to wrestling.
