Trump's inaugural committee has already raised a record $170M in donations

WASHINGTON -- President-elect Donald Trump has raised more than $170 million for his upcoming inauguration, a record amount as tech executives and big donors have eagerly written large checks to help bankroll the ceremony.

The private donations collected thus far were confirmed by a person with firsthand knowledge of the fundraising who was not authorized to speak publicly. The person said Trump's inaugural committee is expected to raise more than $200 million by the end of the effort.

Trump's inaugural committee did not immediately respond to a message seeking comment Wednesday. The committee has not yet detailed how it plans to spend the donations.

The private donations are typically used to help pay for events surrounding the inauguration, such as costs related to the oath of office ceremony itself, along with a parade and glitzy inaugural balls. Money leftover from the inaugural committee is expected to be used toward a future Trump presidential library, according to the person.

The whopping amount raised thus far by Trump's presidential inaugural committee is more than double the amount President Joe Biden raised four years ago when he brought in nearly $62 million for his inauguration, according to Federal Election Commission records.

Donations to Trump's first inauguration in 2016 also set a record when he brought in nearly $107 million.

After the former president's victory in November, along with Republicans winning control of both chambers of Congress, major donors, including tech companies, have been writing big checks as they've sought to improve their relationship with the incoming president.

Amazon and Meta, the parent company of Facebook and Instagram, said last month they were each planning to donate $1 million to Trump's inaugural fund. OpenAI CEO Sam Altman also said he was planning to make a $1 million personal donation.

The New York Times first reported on Wednesday the fundraising sum for this month’s inauguration.

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Price reported from New York.