Last night a new club opened in the wealthy Georgetown neighborhood in Washington, D.C. It’s called “Executive Branch,” and it’s an invitation-only club backed by Donald Trump Jr. and megadonor Omeed Malik. Dasha Burns of Politico reported that it costs more than half a million dollars to join. The exclusive club is designed to allow top business executives to talk privately with Trump advisors and cabinet members. Burns reports that the club already has a waiting list.
When then-candidate Donald Trump celebrated the administration of President William McKinley, it was always clear he saw it as the triumphant marriage of the very rich to the U.S. government. It was the era of so-called robber barons, industrialists and financiers who flooded political campaigns with money to convince voters that those trying to rein them in were socialists or anarchists, then called upon the politicians they put into power to pass laws that benefited their businesses.
“Behind every one of half the portly well-dressed members of the Senate can be seen the outlines of some corporation interested in getting or preventing legislation,” the Chicago Tribune wrote in 1884, “or of some syndicate that has invaluable contracts or patents to defend or push.” Last Sunday a new filing with the Federal Election Commission revealed that donors delivered an astounding $239 million for Trump’s inauguration. Theodore Schleifer of the New York Times notes that Trump’s 2017 inaugural committee raised $107 million. The $346 million raised by Trump’s two inaugural committees is more than the monies raised by all other inaugural committees since Richard Nixon’s committee raised $4 million in 1973. While Trump’s allies have said the money that wasn’t spent on festivities will go to other projects Trump is behind, including his presidential library, there is no oversight on how Trump uses that money.
Spending on the election was even more dramatic. Earlier this month, Americans for Tax Fairness analyzed spending in 2024 and discovered that just 100 billionaire families donated a record-breaking $2.6 billion to federal campaigns, up by 160 times from billionaire spending in elections before the Supreme Court’s 2010 Citizens United decision. Seventy percent of that money went to Republican candidates or causes. In the three races that determined control of the Senate—Montana, Ohio, and Pennsylvania—outside money from billionaires made up 58.1%, 56.8%, and 44.5% of the outside money coming in. Elon Musk donated about $290 million, giving four times as much money to political campaigns in 2024 as he paid in income taxes between 2013 and 2018. (continued)