Trump Spends $300 Million on White House Banquet Hall, Supported by Allies in the Crypto and Tech Sectors

Deep News
Oct 27

President Trump is constructing a $300 million White House banquet hall with vigor typical of a political campaign and has appointed his former campaign finance chief to raise funds for this high-profile yet controversial project. According to insiders, Meredith O’Rourke and her team have been actively fundraising in Washington, seeking donations from corporate executives and companies that previously supported Trump’s 2024 campaign and inauguration. She has also reached out to Republican lobbyists and their corporate clients, urging contributions for what Trump has called a “gift to the nation.” The White House has disclosed little about the financial specifics of the project, and O’Rourke did not respond to requests for comment. During a fundraising dinner for corporate executives and Republican donors held on October 15, Trump claimed he had raised all the necessary funds from “friends,” with any remaining funds allocated for other construction projects. According to the White House, the banquet hall project has received contributions from several major tech companies, including Amazon, Microsoft, Alphabet, and Meta Platforms, along with prominent cryptocurrency firms such as Coinbase, Ripple Labs Inc., and Tether. Other donors include Trump’s long-time supporters, billionaires Steve Schwarzman and Miriam Adelson. Many of the companies contributing to the White House banquet hall project have dealings with the government, ranging from major contracts to regulatory matters, as well as ongoing Department of Justice lawsuits and unapproved mergers. Richard Painter, who served as chief ethics lawyer for former President George W. Bush, stated, “These companies are hoping to gain government contracts and regulatory concessions.” White House Press Secretary Karoline Leavitt dismissed these allegations. “Critics who falsely claim there is a conflict of interest would complain even more if taxpayers were footing the bill,” she said, noting that donors come from a variety of American companies with the intent to enhance the White House’s long-term facilities. Currently, no company has publicly disclosed how much funding it has contributed to the project. T-Mobile confirmed in a statement that it donated to the Trust for the National Mall but stated it is not involved in the allocation of funds or specifics of the banquet hall project. A spokesperson for Coinbase also confirmed the company’s donation to the nonprofit. Microsoft confirmed its involvement in the banquet hall project's donations, while Meta stated it has no “specific information” to share at this time. Lockheed Martin remarked, “We are honored to help realize the President's vision.”

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