US President Trump is using the energy of his political campaign to build a $300 million White House banquet hall, entrusting his former campaign treasurer with raising funds for this high-profile yet controversial project.
According to people familiar with the matter, Meredith O'Rourke and her team have launched an extensive fundraising campaign in Washington, soliciting donations from executives and companies that previously funded Trump's 2024 campaign and inauguration. She has also contacted Republican lobbyists and their corporate clients, urging contributions to the project, which Trump has called a "gift to the nation."
The White House has disclosed few financial details about the project, and O'Rourke did not respond to requests for comment. At a fundraising dinner for executives and Republican donors on October 15th, Trump stated that he had raised all the necessary funds from "friends" and that the remaining funds would be used for other construction projects.
According to the White House, donations to the ballroom project include some of the world's largest technology companies, including Amazon, Microsoft, Alphabet, and Meta Platforms, as well as major cryptocurrency companies like Coinbase, Ripple Labs Inc., and Tether. Other donors include longtime Trump supporters such as billionaires Steve Schwarzman and Miriam Adelson.
Many of the companies donating to the White House ballroom project have government ties, ranging from major contracts and regulatory matters to ongoing Justice Department lawsuits and unapproved mergers.
Richard Painter, former White House ethics lawyer for President George W. Bush, said, "These companies are looking to secure concessions on government contracts and regulations."
White House Press Secretary Karoline Leavitt refuted the allegations. "Critics who falsely claim conflicts of interest would also complain if taxpayers were footing the bill," she said, adding that the donations come from a wide range of American companies and are intended to improve the White House's long-term facilities.
No company has publicly disclosed how much they have donated to the project. T-Mobile confirmed in a statement that it donated to the Trust for the National Mall but said it had no role in the use of funds or the specific arrangements for the ballroom project. A Coinbase spokesperson also confirmed the company's donation to the nonprofit. Microsoft confirmed its contribution to the ballroom project, while Meta said it had "no specific information" to share at this time.
Lockheed Martin said it was "honored to help realize the President's vision."