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Trump Has Reeled in More Than $200 Million Since Election Day
Since his victory in November, President-elect Donald J. Trump’s allies have raised well over $200 million for a constellation of groups that will fund his inauguration, his political operation and eventually his presidential library, according to four people involved in the fund-raising.
It is a staggering sum that underscores efforts by donors and corporate interests to curry favor with Mr. Trump ahead of a second presidential term after a number of business leaders denounced him following the violence by his supporters at the Capitol on Jan. 6, 2021.
Mr. Trump has promised to gut the “deep state” and made various promises to industry supporters. Among the pledged donors for the inaugural events are Pfizer, OpenAI, Amazon and Meta, along with cryptocurrency firms.
The total haul for the committee financing his inaugural festivities — at least $150 million raised, with more expected — will eclipse the record-setting $107 million raised for his 2017 inauguration, according to three people briefed on the matter who requested anonymity because they were not authorized to share internal financial information.
Other committees benefiting from the fund-raising blitz include a super PAC called Make America Great Again Inc. and its associated nonprofit group, which is expected to be used by Mr. Trump’s team to back his agenda and candidates who support it, while opposing dissenters.
Mr. Trump has boasted about the haul, telling people during the Christmas holiday season that he had raised more than $200 million since the election. Mr. Trump’s team has repeatedly noted how many people have wanted to find ways to donate to him since his election win.
The Trump transition and inaugural committee did not return emails seeking comment about the fund-raising haul.
David Tamasi, a lobbyist who has raised money for Mr. Trump, dismissed a suggestion that corporate interests were giving to avoid Mr. Trump’s wrath, though he acknowledged that some donors may be trying to atone for having previously maintained distance from the president-elect.
“It is a time-honored D.C. tradition that corporations are enthusiastically embracing this cycle in all manners, largely because they were on the sidelines during previous Trump cycles,” he said. “They no longer have to hedge their political bets.”
Inaugural committees can accept unlimited contributions from individuals and corporations, but not foreign nationals. Major corporations that try to avoid partisan politics have long donated to inaugural funds to signal a willingness to work with new administrations and support for the democratic transfer of power, regardless of the incoming president’s party.
But there is cross-pollination among top fund-raisers for Mr. Trump’s inauguration and his political efforts, including several partners at lobbying firms that represent major corporate interests. Raising money for the inauguration can help lobbyists secure access for clients, and cachet for themselves with the incoming administration.
Among the four finance chairs for Mr. Trump’s inaugural committee are the lobbyist Jeff Miller and Reince Priebus, a former chief of staff in the Trump White House who is not a lobbyist but is chairman of the board of advisers of the lobbying firm Michael Best Strategies. Their firms represent companies with much at stake in the forthcoming administration, some of which plan to donate to the inauguration.
Mr. Miller’s firm, Miller Strategies, represents Pfizer and the Pharmaceutical Research and Manufacturers of America, each of which has pledged donations. Their executives met after the election at Mar-a-Lago with Mr. Trump and his choice for health and human services secretary, Robert F. Kennedy Jr., amid concerns about how the drug industry might be affected by Mr. Kennedy, a vaccine skeptic.
Since the election, Mr. Miller’s firm has registered to lobby for the ride-share tech company Uber, which has donated $1 million, as has, separately, its chief executive Dara Khosrowshahi. The firm also represents the tech company OpenAI, whose chief executive, Sam Altman, plans to give $1 million. Michael Best Strategies has represented the cryptocurrency firm Ripple for nearly four years. It has pledged $5 million in its own cryptocurrency, XRP — among the largest known donations to the inaugural committee.
After the election, Ripple retained the lobbyist Brian Ballard, a top Trump fund-raiser.
Another Ballard client, Robinhood, a leading cryptocurrency trading platform, has donated $2 million.
“We look forward to working with President Trump and the incoming administration to drive positive change in the markets, be an active voice for customers and pursue our mission to democratize finance for all,” Mary Elizabeth Taylor, Robinhood’s vice president of global government and external affairs, said in a statement.
Other companies associated with cryptocurrency are expected to be major contributors as well, reflecting optimism that Mr. Trump will deliver on his campaign trail promises to dial back federal scrutiny that figures in the industry say have stifled its growth.
Amazon, a Ballard client that found itself crosswise with the first Trump administration, said it planned to donate $1 million in cash.
Donations of at least $1 million grant access to the top package of perks related to several days of festivities in the run-up to the inauguration on Jan. 20, including what are touted as “intimate” dinners with Mr. Trump and Vice President-elect JD Vance, though often with many attendees, as well as black-tie balls after the swearing-in.
Other entities, ranging from companies like Meta to previous Trump critics like the billionaire Ken Griffin, have made $1 million donations to the inaugural.
Contributions to inaugural committees, which are required to be publicly disclosed to the Federal Election Commission months after the inauguration, are one of the last major opportunities to financially support a second-term president.
Mr. Tamasi and Oswaldo Palomo, who are partners in the lobbying firm Chartwell Strategy Group, raised more than $3 million for the inaugural. Their firm represents companies that could be affected by Mr. Trump’s proposed tariffs, including the South Korean automaker Hyundai and a U.S. subsidiary of the South Korean conglomerate SK Group.
The deadline for donating to the inaugural to be eligible for the perks of the weekend is Jan. 10, according to documents distributed to potential donors.
If the inaugural committee’s fund-raising exceeds the amount budgeted for the festivities, the expectation among fund-raisers is that the excess would be transferred to the committee collecting money toward a presidential library for Mr. Trump after he leaves office, according to two people involved in the effort.
The Donald J. Trump Presidential Library Fund Inc. was incorporated in Florida on Dec. 20, six days after it was revealed that ABC News had agreed to donate $15 million to Mr. Trump’s future presidential foundation and museum to settle a defamation claim he had brought against the network.
The fund was incorporated by a lawyer in Florida, Jacob Roth, who has previously created Trump groups, including the inaugural committee, according to state corporate records. The purpose of the entity, according to the Florida articles of incorporation, is “to preserve and steward the legacy of President Donald J. Trump and his presidency.”
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Video: In Charlotte, Border Patrol Arrests Send Families Into Hiding
new video loaded: In Charlotte, Border Patrol Arrests Send Families Into Hiding
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transcript
In Charlotte, Border Patrol Arrests Send Families Into Hiding
After Border Patrol agents showed up to an afterschool care facility for immigrant children in Charlotte, N.C., staff members mobilized to deliver food and essentials to local families in hiding. The New York Times spoke to one mother with three children who said they have not left their home in several days.
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This afterschool program in East Charlotte has been a safe space for immigrant children. But today, there are reports that Customs and Border Patrol agents are approaching. Staff rush to lock down the building. They say this is the second day in a row that immigration enforcement has showed up. We’re walking up right now to a CBP sighting here. In a statement to The Times, the Department of Homeland Security stated it did not target a school or daycare, and denied trying to enter or make any arrests near the building. Across Charlotte, more than 370 people have been arrested so far, sending large parts of the immigrant community here into hiding. A lot of families, even regardless of legal status, they’re afraid and they’re staying home. People aren’t going to work. Businesses are closing, and kids aren’t going to school. According to city officials, about 20 percent of the city’s student population was missing from school on Monday. Maria asked to only be identified by her first name for fear of being arrested. She said she and her husband, who are both undocumented, and their three children have not left home in four days. Ourbridge suspended its afterschool program after Border Patrol showed up on Monday. Its staff is now delivering food and essentials to families like Maria’s, who remain in hiding with their children. These specific families that we’re heading to right now, they contacted our team and they let us know what specifically they needed. So that’s what we’re dropping off. In just two days, their number of requested deliveries jumped from 40 to 267. Maria said she doesn’t know when the immigration operation will end, but she and her husband will stay home until it does.
By Ang Li, Alex Pena and Amy Marino
November 22, 2025
News
Marjorie Taylor Greene could have led the anti-Trump resistance but the mob boss got his way
It has been a head-spinning 48 hours in Washington. Liberal TV host Rachel Maddow showed up at the funeral of conservative vice-president Dick Cheney. Donald Trump embraced Zohran Mamdani, a democratic socialist set to be the first Muslim mayor of New York, like a brother.
And then Marjorie Taylor Greene, a Trump acolyte-turned-nemesis who bested him over the release of the Jeffrey Epstein files, stunned the political establishment again. In what should have been her hour of triumph, the Maga star abruptly announced that she was quitting the House of Representatives.
Everyone seemed surprised but one man was very happy. “I think it’s great news for the country,” Trump told ABC News. “It’s great.”
It was also great news for a president having the worst month of his second term. Trump’s approval rating is in freefall. Democrats romped to victory in elections. Unthinkably, even the Republican party is finding a spine, defying him on the Epstein files, Senate filibuster and congressional redistricting in Indiana.
They know that every day takes Trump a little further away from his epic comeback victory in 2024 and a little closer to the status of a lame duck. Watching the limelight and cameras shift from the Oval Office to his would-be successors may be too much for him to bear.
But Greene’s departure shows all that may be wishful thinking for now. In one timeline, she could have used the Epstein win as the foundation of an anti-Trump resistance in the Republican ranks. The party has spent the past decade demonstrating that cowardice is contagious; perhaps the courage to reassert congressional autonomy would be too.
It was not to be. Instead Greene follows the likes of fellow dissenters Liz Cheney, Bob Corker, Jeff Flake and Adam Kinzinger in heading for the exit. Trump has presided over the homogenisation of the Republican party: you are loyal to him or you are out. He drives out opposition with the fear and intimidation tactics of a mob boss.
Trump’s backing can make all the difference in Republican primary contests that select which candidate will run for Congress. He endorsed a challenger to Cheney in Wyoming and she was duly unseated. Weary of Greene’s independent streak, he called her “wacky”, accused her of going “far left” and pledged to endorse a primary challenger “if the right person runs”.
Greene could have fought a primary in her Georgia district and maybe won. But it would have taken place in a poisonous and violent political climate. She says the insults from Trump have already led to unwanted pizza deliveries, hoax emergency calls and death threats. He has given his antagonists too many reasons not to run.
Explaining her decision, Greene said: “I have too much self-respect and dignity, love my family way too much, and do not want my sweet district to have to endure a hurtful and hateful primary against me by the president we all fought for, only to fight and win my election while Republicans will likely lose the midterms. I refuse to be a battered wife hoping it all goes away and gets better.”
The image of a “battered wife” is one that will linger, especially in light of Trump’s recent misogynistic outbursts and those who defend them.
Greene, 51, did not indicate in her resignation speech what she will do next. Her sudden break from Trump prompted speculation that she is lining up her own presidential bid in 2028, although she has dismissed that “baseless gossip”.
Democratic congressman Jamie Raskin told the Axios news site on Friday: “I wouldn’t be surprised if MTG runs for president as a rightwing independent in 2028.”
Kinzinger said on the Bulwark podcast: “I’ll give her a little credit, which is she could see the tea leaves, which is like, Trump is going away, if I want to run for president or governor or whatever – I can be the former crazy that now is normal. It’s not a bad tactic to be honest with you because you’ll maintain credit with the crazies.”
When it comes to crazy, Greene used to be most famous for endorsing the death penalty against her opponents, heckling Joe Biden’s State of the Union address and theorising that a wildfire was caused by a space laser controlled by a Jewish banking family. She argued in 2019 that Ilhan Omar and Rashida Tlaib, both Muslim women, were not “official” members of Congress because they used Qur’ans rather than Bibles in their swearing-in ceremonies.
But last week she hinted at a conversion on the road to Damascus. Greene told CNN she was “sorry for taking part in the toxic politics” of recent years, acknowledging that “it’s very bad for our country”. Does this mean she will now stand for civility, tolerance and building bridges? If so, the tragedy is she will be anywhere but Washington.
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Rare earths: Federal backing and tech advances aim to help the U.S. catch up to China
A rare earth minerals mine in China’s Jiangsu province, photographed in 2010.
/AFP via Getty Images
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/AFP via Getty Images
With names like neodymium and dysprosium, rare-earth elements sound exotic — and their perceived scarcity has only added to the mystique.
In reality, rare earths aren’t that rare, but just difficult to extract and refine. Yet they’ve become indispensable to modern life, embedded in everything from our smartphones and electric-vehicle motors to wind turbines and medical imaging machines.
And demand is climbing.
The real choke point is processing and refining — a complex and environmentally sensitive step that the U.S. has lagged behind in and that China now dominates, controlling nearly 90% of global output.
The need for high-torque, compact EV motors — which use rare-earth magnets that are three to four times stronger than conventional magnets — is helping drive demand. Production of these motors is soaring by roughly a third each year. Military aircraft also rely heavily on these elements; one RAND estimate suggests an F-35 contains over 900 pounds of rare-earth materials in its engines and electronics.
Taking a private-public approach
To reduce reliance on foreign supply, the White House is pursuing U.S. self-sufficiency in rare-earth production. The federal government under President Trump has supported the sector in ways that depart from traditional free-market principles. Rather than relying solely on private industry, the federal government has followed a strategy similar to China’s, providing hundreds of millions in loans and even taking stakes in key mines and startups.
Indiana-based ReElement Technologies is among the beneficiaries of this government backing. Earlier this month, the Trump administration announced a partnership between the Pentagon, via its Office of Strategic Capital (OSC), ReElement and Vulcan Elements, a North Carolina based firm that produces rare-earth magnets for military applications.
ReElement says it has developed a more efficient, environmentally friendly method of rare-earth processing and recycling that involves chromatography. The company operates a commercialization facility in Noblesville, Ind., with a larger production site in Marion, Ind., slated to come online next year.
Stacks separate rare earths at ReElement’s Noblesville, Ind., plant.
ReElement Technologies Corp.
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ReElement Technologies Corp.
ReElement Technologies CEO Mark Jensen says confidently that by the end of 2026, “we’ll be the largest producer of rare earth oxides in the United States.”

Because China’s dominance in refining is so great, the U.S. benchmark for success is modest, according to Bert Donnes, a research analyst at investment banking firm William Blair.
ReElement, in partnership with Vulcan Elements, aims in the next few years to produce 10,000 metric tons of neodymium-iron-boron magnets used not only in EVs, but also wind-turbine generators, hard-disk drives and MRI machines. Even that ambitious target is a fraction of the approximately 230,000 tons produced globally in 2024, according to the Institute of Electrical and Electronics Engineers, or IEEE.
“I would say if you see those numbers, you think this is going to be a massive facility,” says Donnes of ReElement’s current operation. “It isn’t.”
Compared to a traditional processing facility, ReElement’s operation is compact, he says, helping avoid any “not-in-my-backyard” (NIMBY) backlash. “So it’s not like people are scared of this process. Maybe they don’t know about it as much because you can keep the process so small,” he says.
How the U.S. lost its lead
Starting in the 1980s, China began surging ahead of the U.S. and the rest of the world in rare earth production. Around the same time, environmental concerns mounted at the only major U.S. rare earth mine, Mountain Pass in California, where spills of radioactive and toxic wastewater — byproducts of refining — raised alarms.
Mountain Pass is an open-cut mine where they “drill and blast, blend their types and locations in the pit” before grinding the solid materials into smaller particles, according to Kelton Smith, a lead process engineer for mining at Tetra Tech, a global consulting and engineering services firm. A flotation process then concentrates the rare earths that are in turn leached with hydrochloric acid.
The California mine had to halt production multiple times over the years due to environmental concerns. During that time, it changed ownership and ultimately filed for bankruptcy protection before being acquired by MP Materials in 2017, which reopened the mine.
The troubles at Mountain Pass helped China to gain a foothold and eventually overtake the U.S. in rare earths — just as demand for them was rising. Beijing now produces about 60% of the world’s supply of these substances, according to the International Energy Agency. China also holds a substantial amount of the world’s proven reserves of the ores that contain these elements — roughly 34%, according to the U.S. Geological Survey, but several other countries — including the U.S. — have substantial reserves as well.
Trump’s trade war with China has made the squeeze in rare earths even more acute. Because the U.S. lacks the ability to process rare earths on a large scale, MP Materials has had to send its ore from Mountain Pass to China for refining. But no more. Instead, the company is having to ramp up its limited capability to process the ore on-site.
Further complicating the issue are expanded export controls that Beijing announced last month that require foreign companies to obtain a license in order to sell products overseas that contain Chinese-sourced rare earths.
Aaron Mintzes is deputy policy director and counsel at Earthworks, a national group focused on preventing the adverse impacts of mineral and energy development. “What we’re urging … is to do that processing in ways that reduce energy and water intensity and toxicity,” he says.

Brent Elliott, a research associate professor of geology at the University of Texas, estimates the U.S. has sufficient resources to meet demand. “It’s about the extraction potential and the logistics of getting it out of the ground in a way that is environmentally sensitive but also socially responsible,” he says.
Partly because it is environmentally messy, with toxic byproducts, Beijing has gained an advantage by ignoring those consequences. “China can do it faster and better because they don’t have the environmental concerns that we have,” Elliott says.
Many experts agree that the U.S. has enough reserves but lacks the processing capability to go along with it. Simon Jowitt, a geologist and the director of the Nevada Bureau of Mines and Geology, says there are a number of rare earth deposits in the U.S. that have potential, but it’s rarely a straightforward proposition.
“You need a source of the rare earths, some way of transporting the rare earths, some way of concentrating the rare earths, and some way of putting those rare earths into a form that they can then be extracted,” Jowitt says. “If you don’t have one of those, then you end up with something that isn’t a mineral deposit and you’ll never get anything out of it.”
Last year, China decreed new regulations for rare earth processing that include strict environmental and safety regulations, but it remains to be seen how stringent enforcement will be.
Meanwhile, it not only processes its own ore, but it imports raw ore from places like Southeast Asia and Africa. It’s part of a broader strategy by China to set itself up as a global hub for rare earths, according to Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies.
“They put a lot of state resources behind building processing capabilities, such that the minerals come from different places and then they get sent to China for refining,” Baskaran says. “What China has been extraordinarily good at is connecting their foreign policy to secure rare earths from around the world.”
A new process and federal investments
Refining is where ReElement comes in. The company uses large columns in a specialized filtration process developed at Purdue University to extract and purify valuable metals from raw ore, but also recycled rare earths from old magnets. The process is more efficient and less environmentally damaging than older methods, such as those used by China.
Jensen, the ReElement CEO, says that method, known as solvent extraction, is “ecologically challenging” and difficult to scale. “It’s a dead technology,” he says, adding that his company’s ultimate goal isn’t necessarily to achieve U.S. dominance, but to produce enough rare earths domestically to break China’s monopoly.
The One Big Beautiful Bill passed in July appropriated $7.5 billion toward securing critical minerals. Days later, the Pentagon’s Office of Strategic Capital announced a $400 million investment in MP Materials, making the U.S. government the company’s largest shareholder. The Pentagon agency plans further investments in “[c]ritical components, raw materials, and rare earth elements utilized in microelectronic manufacturing.”
As part of the deal with ReElement, Vulcan Elements will get a $620 million loan from the Pentagon’s OSC with an additional $50 million provided by the Department of Commerce under the CHIPS and Science Act signed by former President Joe Biden. ReElement Technologies will receive an $80 million loan to support the expansion of its recycling and processing operations.
“I think we’re making big strides now because of all the grants and all the critical-mineral-focused grants coming out,” says Elliott, the University of Texas geology professor. “I think it really can set us up for success.”
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