President Donald Trump is reportedly raking in the cash from donors, drawing attention to the power of the presidency as a fundraising machine.
According to The Wall Street Journal, Trump has raised about $800 million in private donations since taking office again in 2024, working in tandem with his head fundraiser, Meredith O’Rourke.
O’Rourke, who has no official White House title, often calls corporate leaders on behalf of the President and asks for sizable donations, ranging from $5 million to as much as $50 million.
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O’Rourke is reportedly tenacious in her role as chief political fundraiser for Team Trump, and isn’t above telling potential donors, “the boss wants his money,” WSJ reported. In turn, Trump calls O’Rourke, “the Princess of Darkness” who excels at closing contributions from donors.
When presidential donor funds and undue influence collide
Raising money for a current administration is a long Washington, D.C. tradition, and a perfectly legal one. For example, Presidents routinely raise massive amounts from corporations and wealthy individuals for presidential inaugural festivities, future presidential libraries, or for traditional events like the annual White House Easter egg hunt.
At $800 million in total donations, however, Trump is taking private White House fundraising to another level.
A case in point. In late 2025, Reuters reported the White House tapped into an unnamed private donor’s back pocket for a $130 million donation that was steered into paychecks for U.S. military personnel during an extended government shutdown. Citing the donor as a “friend of mine” at an October, 2025 White House event, Trump said, “He called us the other day and said, ‘I’d like to contribute any shortfall you have because of the Democrat shutdown… because I love the military and I love the country.”
That contribution earned the ire of Open Secrets, a U.S. research organization that
tracks money in U.S. politics and analyzes its effect on elections and public policy. The organization alleged that the Trump administration was working outside the federal government’s appropriations process to raise funds, which could lead to donors seeking undue influence over U.S. public policy.
“When private money moves through government without transparency, from White House upgrades to military pay, it opens the door to hidden influence,” said Hilary Braseth, executive director of OpenSecrets, in a statement. “A government of the people must be transparent. The public has a right to know who’s paying, how much, and for what.”
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Americans deserve full transparency on presidential donations
The legal and ethical demarcation line on presidential fundraising is a thin one, non-profit experts say, and that’s a transparency problem, and likely a political one, too.
“The ethical line appears earlier: when management gives money to a politician because it fears retaliation or hopes for favorable treatment, shareholders deserve to know, even if no explicit bargain can be proved,” Douglas Goldstein, director at Profile Investment Services, a financial advisory firm, told Moneywise.
Perhaps a larger problem is the notion that money follows power, and power doesn’t get any bigger than the occupant in the Oval Office.
“As government gains more discretion over contracts, regulation, antitrust decisions, and subsidies, companies will spend more to remain close to the people exercising that discretion,” Goldstein said. “The deeper problem is not that companies respond to incentives, it’s that government has made proximity to power commercially valuable.”
Corporations should favor transparency with political contributions
The Trump administration has struck gold with high-profile U.S. companies that have dug deep and delivered for the White House’s fundraising machine.
Take Softbank, which contributed $50 million to Trump’s presidential library, or Apple, which forked over $25 million for the White House ballroom project, as WSJ reported.
For donor companies, the legal question isn’t in play, as any U.S. citizen or entity is allowed to donate to political private causes, but companies that do contribute massive amounts of cash may want to establish full transparency with their employees, investors, and customers.
Companies thinking of donating cash to powerful political organizations should ask across the C-suite if they’d be comfortable explaining the transaction publicly if all the details were on the front page within a week.
“A company can potentially stay within the law and still create a serious ethical or reputational problem,” Colleen Barry, head of marketing at Ketch, a data privacy software platform, told Moneywise. “That’s especially true when the company has active business with the federal government and makes a large contribution to a politically connected organization at roughly the same time.”
Barry, who specializes in how companies build trust, manage risk, and communicate with customers and stakeholders, said she’d look at three factors if a firm wanted to contribute large sums of money to political groups.
“The size of the contribution compared with the company’s normal giving, the timing, and the relationship between the company and the government are all important,” Barry said. “None of these automatically proves improper conduct, but together they can create a perception of influence.”
Taking control of politically-motivated funding decisions
Barry, who favors legal disclosures of all U.S. political donations, said transparency isn’t only about satisfying regulators.
“It also gives companies a chance to explain their decisions in their own words instead of allowing journalists, activists, or social media users to define the narrative for them,” she said.
In today’s environment, the cost of hiding information can be higher than the cost of disclosing it. “Companies should assume that material political spending will eventually become public and govern themselves accordingly,” Barry added.
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A former Wall Street bond trader, Brian O'Connell is the author of two best-selling books: “The 401k Millionaire” and “CNBC’s Creating Wealth.” His work is featured on national finance and business platforms like TheStreet.com, CBS News, CNN, The Wall Street Journal and Forbes.
