Silicon Valley tech giants are funneling tens of millions of dollars into President Donald Trump’s political entities and personal projects in exchange for high-level access and regulatory leniency, according to a Wall Street Journal report.
The Journal investigation detailed how corporate donations are allegedly converted into administration favors. Wall Street insiders have dubbed the required political capital the “Trump Transaction Tax,” the price corporations pay to remain in the White House’s favor.
According to the report, Trump raised more than $800 million since returning to office, routing funds through entities exempt from donor disclosure rules. These include a White House ballroom nonprofit, Trump’s presidential library, and political committees like the 501(c)(4) group Securing American Greatness.
Trump personally manages the fundraising operation and contacts his fundraiser, Meredith O’Rourke, every night with new contacts and frequently insists on asking for $25 million or $50 million donations, according to the Journal. On calls, O’Rourke makes the stakes clear to donors, telling them, “The boss wants this money.”
Key contributions from major tech players include:
Meta Platforms Inc. donated $10 million to Securing American Greatness, alongside $22 million to Trump’s presidential library and additional funding for the White House ballroom.
Apple Inc., Microsoft Corp., and Amazon.com Inc. pledged a combined $40 million toward White House renovations.
Google allocated $22 million of a $24.5 million lawsuit settlement toward the White House ballroom fund.
OpenAI President Greg Brockman contributed $25 million to a Trump super PAC, while CEO Sam Altman frequently attends $1 million-a-head donor dinners.
Advocacy groups like The Tech Oversight Project allege these funds directly influence policy outcomes. Following its contributions, Meta secured White House intervention to prevent CEO Mark Zuckerberg from testifying under oath before the Senate Judiciary Committee regarding child safety, allowing a lower-profile executive to stand in instead. Both Meta and OpenAI are currently lobbying for sweeping immunity shields against liability lawsuits.
“Write a check, dodge accountability, deny kids and families a fair say, block any and all rules, and keep looting the store,” said Sacha Haworth, executive director of The Tech Oversight Project.
While executives like Apple’s Tim Cook and Tesla Inc.’s Elon Musk have maintained highly visible ties with the administration, others operate away from the public eye.
Separately, the Journal revealed Oracle Corp. co-founder Larry Ellison secretly directed approximately $45 million to a nonprofit supporting Trump’s 2024 campaign. Despite avoiding public White House state dinners, Ellison has continued funding pro-Trump organizations, with Oracle stepping up as a corporate sponsor for the administration’s Freedom 250 initiative. Ethics disclosures simultaneously reveal that Trump’s personal investment accounts actively traded Oracle stock earlier this year.
