Major donors reap influence and material benefits, ethics experts argue, as money and governance intertwine
Donald Trump’s “pay-to-play” governing and fundraising style is helping forge a new gilded age where many super rich donors to Trump’s Maga Inc Pac and other top Trump causes are reaping big political and financial gains, including lax regulations, federal contracts and other benefits, say scholars and analysts.
The transactional style of the US president has been a financial boon to cryptocurrency, AI and fossil fuel interests, among others, which have showered seven- and eight-figure donations on Trump’s Super Pac, inaugural committee and pet projects such as his oft-touted mammoth White House ballroom.
According to public filings and Trump’s statements, the president’s Super Pac hauled in a stunning $300m in 2025, which analysts expect will mainly be spent on the 2026 midterm elections to help the GOP keep control of Congress, and Trump’s lavish ballroom project has raised $350m.
Among the top business winners under Trump, the crypto industry stands out as benefitting from strong administration backing while making multi-million dollar donations to his Super Pac and ballroom. Notably, crypto has been a bonanza worth over $1bn for Trump and his family who launched their own crypto business, World Liberty Financial, in the fall of 2024 during his presidential run.
