In a significant move, Big Tech and other publicly traded companies are stepping up to help finance the ambitious $300 million White House ballroom project initiated by President Donald Trump. This extravagant 90,000 square foot ballroom is being constructed following the demolition of the White House East Wing, a decision that has incited public outrage after Trump assured in July that the building would remain untouched.
Despite the public backlash, President Trump has maintained that the funding for this extravagant ballroom will come from his personal finances and contributions from both corporate and individual donors, ensuring that there will be no cost to taxpayers. In a recent statement, Trump revealed that the projected cost of the ballroom has escalated from an initial estimate of $200 million to a staggering $300 million. However, he has not disclosed the exact amount he personally is contributing to the project.
White House press secretary Karoline Leavitt informed reporters that details regarding Trump's personal financial contribution will be made public. Alongside this, the White House has released a list of notable donors, which prominently features major companies such as Amazon, Alphabet, Apple, Microsoft, and Meta.
Among the corporate contributions, Alphabet stands out, pledging $22 million, which accounts for approximately 7% of the total estimated cost of the ballroom. This financial support stems from a recent settlement reached between Trump and Alphabet regarding a lawsuit he filed against YouTube for banning him following the January 6, 2021, riots. The settlement stipulates that $22 million will be directed to the Trust for the National Mall, a tax-exempt organization dedicated to the restoration and enhancement of the National Mall, specifically to aid in the construction of the White House State Ballroom.
The list of donors is diverse, including companies like Palantir, Micron, and Coinbase, as well as prominent individuals such as Harold Hamm, the founder of Continental Resources, and the Winklevoss twins, Cameron and Tyler. Lockheed Martin expressed its enthusiasm for contributing to the project, with a spokesperson stating that they are honored to support the realization of the President's vision, which they believe symbolizes American ideals.
Additionally, Comcast, the parent company of CNBC, is also among the corporate donors. CNBC has reached out to Comcast for further comments regarding their contribution, although the exact amount they have pledged remains unclear.
In total, the White House has disclosed a comprehensive list of donors that includes:
Altria Group Inc. Amazon Apple Booz Allen Hamilton Inc. Caterpillar Inc. Coinbase Comcast Corporation J. Pepe and Emilia Fanjul Hard Rock International Google HP Inc. Lockheed Martin Meta Platforms Micron Technology Microsoft NextEra Energy Inc. Palantir Technologies Inc. Ripple Reynolds American T-Mobile Tether America Union Pacific Railroad Adelson Family Foundation Stefan E. Brodie Betty Wold Johnson Foundation Charles and Marissa Cascarilla Edward and Shari Glazer Harold Hamm Benjamin Leon Jr. The Lutnick Family The Laura & Isaac Perlmutter Foundation Stephen A. Schwarzmann Konstantin Sokolov Kelly Loeffler and Jeff Sprecher Paolo Tiramani Cameron Winklevoss Tyler WinklevossAs the project progresses, the public will be keenly observing how these corporate contributions shape the future of the White House State Ballroom and its implications for taxpayer involvement.
