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As bulldozers have begun demolishing the East Wing of the White House to make way for a new grand ballroom, President Donald Trump has stressed that the project "will not cost the American taxpayer a penny."
Instead, the roughly $300 million in funding will come from private donations, many of them from giant corporations and wealthy donors with close ties to the administration or direct economic interests in federal government policies. The money is being channeled through the nonprofit Trust for the National Mall, and the donations are tax deductible.
According to documents released by the administration, reported by CNN, among the contributors are big names from the fields of technology, energy, defense and cryptocurrencies, including companies such as Google, Amazon, Apple, Meta, Microsoft, Lockheed Martin, as well as well-known billionaires such as Miriam Adelson, Stephen Schwarzman, Harold Hamm, and the Winklevoss brothers.
Who are the main donors?
The Adelson Family – Billionaire philanthropist Miriam Adelson, majority owner of the NBA team Dallas Mavericks, has been among Trump's biggest supporters since the 2016 campaign. She and her late husband, Sheldon Adelson, have donated over $30 million to Trump's campaigns.
Google (Alphabet) – The tech giant has contributed $22 million “on behalf of the president” as part of a legal settlement related to Trump’s YouTube ban in 2021. The company has won federal contracts worth up to $200 million for artificial intelligence development.
Amazon – Jeff Bezos' company, once at odds with Trump, has donated over $1 million to the 2025 inaugural committee. Amazon Web Services has won over $500 million in government contracts in the last three years.
Apple CEO Tim Cook has maintained a close relationship with the president, personally donating $1 million and offering him a personalized gold statuette during a meeting in the Oval Office this summer.
Lockheed Martin – The Pentagon's largest contractor, with over $40 billion in federal contracts per year, donated $1 million to the project, calling the new hall "a symbol of American ideals."
Cryptocurrencies at the center of financing
A large portion of the donors come from the world of cryptocurrency, a sector that Trump has strongly embraced in his second term. Ripple, the creator of the digital currency XRP, donated almost $5 million — the second-largest individual contribution.
Brothers Cameron and Tyler Winklevoss, founders of the Gemini platform, have each donated over $1.6 million, mostly in cryptocurrencies, and support Trump's plans to create a national crypto reserve.
Paxos Trust Company and its CEO Charles Cascarilla, as well as Coinbase, one of the largest US cryptocurrency exchanges, have also made millions in donations to the president's project and political committees.
From finance to energy and construction
Howard Lutnick, former CEO of Cantor Fitzgerald and now Secretary of Commerce in the Trump administration, donated over $9 million to pro-Trump organizations in the campaign, while Stephen Schwarzman, the head of Blackstone, has donated over $4 million.
In the energy sector, Harold Hamm, founder of Continental Resources, one of the pioneers of the US oil industry, has donated over $3 million personally and more through his company.
While from the builders, Caterpillar, an important supplier to the US military, contributed $100,000, and Paolo Tiramani, founder of the company BOXABL, donated shares worth $10 million to the project fund.
Other corporations with government interests
Also on the list are Comcast and Meta, media companies that have improved relations with the president after a period of tensions. HP Inc., Microsoft, NextEra Energy and Union Pacific Railroad, all with significant contracts with the federal government. Hard Rock International, owned by the Seminole tribe, which once bought one of Trump's bankrupt casinos in Atlantic City.
Mixing politics with business
Among the donors are several current cabinet members, including Kelly Loeffler, Small Business Administrator, and her husband, Jeff Sprecher, CEO of the New York Stock Exchange, who have collectively donated over $13 million.
Critics of the project have raised questions about conflicts of interest, noting that many of the companies and individuals financing the new hall have benefited from policies, contracts or regulatory decisions of the Trump administration. However, the president has stressed that “the hall will be a gift to the American people” and a “symbol of the strength and greatness of the nation.”
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