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Who Paid for Trump’s Transition to Power? The Donors Are Still Unknown.
After six weeks in office, President Trump has not disclosed the names of the donors who paid for his transition planning, despite a public pledge to do so.
Preparing to take power and fill thousands of federal jobs is a monthslong project that can cost tens of millions of dollars. Previous presidents, including Mr. Trump himself in 2017, used private contributions as well as federal money to foot the bill.
Those presidents made public the names of donors and their contributions within 30 days of taking office, as required under agreements they had signed with the departing administration.
The agreements offered the transition teams millions of dollars in federal funding and a variety of services, such as security, office space and the use of government servers, in exchange for following strict rules on fund-raising, including the disclosure obligation.
Mr. Trump’s 2024 transition team declined to sign such an agreement, stating in late November that it wanted to “save taxpayers’ hard-earned money” by forgoing federal support and financing its operations privately. At the same time, it promised that “donors to the transition will be disclosed to the public” and volunteered that it would “not accept foreign donations.” It did not state whether it would limit individual contributions to $5,000, as previous administrations had.
No disclosures about that financing have been made by the Trump transition, and neither it nor administration officials have given indications of a timeline for releasing that information.
Karoline Leavitt, the White House press secretary, did not respond to requests for comment.
The leaders of the Trump transition were Howard Lutnick, now the commerce secretary, and Linda McMahon, who was confirmed Monday as the education secretary. Neither Mr. Lutnick nor Ms. McMahon responded to requests for comment.
A spokesperson for the General Services Administration, which works closely with presidential transitions, said in a statement that the “the Trump-Vance Transition Team is not required to publicly disclose transition-related donations since they did not accept the services and funds outlined in” the memorandum of understanding that the agency offered the transition last fall.
Experts on government accountability noted that without a public accounting of donors, it was exceedingly difficult to know whether individuals or corporations had tried to buy influence with the new administration behind closed doors.
“Transparency on the question of private interests influencing public power is really fundamental to the health of our system, and we’re seeing that break down in very big ways,” said Max Stier, the president of the Partnership for Public Service, a nonpartisan nonprofit that promotes best practices in the federal government. “They made a promise. They owe it to the public to fulfill that.”
Mr. Trump’s previous transition, after the 2016 election, had roughly 120 employees, used government office space and email servers and received $2.4 million in federal funds. In exchange, it disclosed that more than 3,000 people, companies and advocacy organizations donated $6.5 million to the effort, with those contributions capped at $5,000 apiece, as required by the G.S.A. agreement.
Far less is known about the financing of the most recent Trump transition. Operating largely out of private offices in West Palm Beach, Fla., and eschewing government servers, the transition appears to have heavily involved the billionaire Elon Musk — who spent at least $288 million to help elect Mr. Trump and now leads the so-called Department of Government Efficiency — as well as a number of other technology industry executives.
Trump Vance 2025 Transition Inc., as the transition is formally known, was registered in Florida as a “dark money” nonprofit that does not have to disclose its donors to the Internal Revenue Service. The funds cannot be used to enrich the transition’s officers, but they can be directed to support political candidates or to pay Mr. Trump’s businesses for services provided.
Mr. Trump’s post-election fund-raising was not limited to the transition. His inaugural committee, which is a separate entity, brought in more than $170 million in private donations as of early January, a record.
Unlike the transition, the inaugural committee is legally required to report donations to the Federal Election Commission. Although the inaugural committee has not yet filed a report with that regulator, a number of high-profile donors have revealed their contributions. Many of those entities have government contracts or are engaged in legal cases involving federal agencies.
Among them are the technology companies Amazon, Meta, Google and Microsoft, each of which donated $1 million. Kraken, a cryptocurrency exchange that was sued by the Securities and Exchange Commission in 2023, put in $1 million as well. On Monday, the S.E.C. said it was dropping the case voluntarily. Last week, it dismissed a suit against another cryptocurrency exchange, Coinbase, which also donated $1 million to Mr. Trump’s inauguration.
David A. Fahrenthold contributed reporting.
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Video: Will ICE Change Under Its New Leader?
By Hamed Aleaziz, Sutton Raphael, Thomas Vollkommer, Gilad Thaler, Whitney Shefte and Alexandra Ostasiewicz
March 27, 2026
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A surprise resignation could open the door for an independent to win a Montana Senate seat
Seth Bodnar, the former president of the University of Montana, is now running for Senate as an independent
Kirk Siegler/NPR
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Kirk Siegler/NPR
BUTTE, Mont. – It’s long been an adage in Montana politics that if you’re running for office, you’d better have a float in the Butte St. Paddy’s Day Parade, which draws thousands to the mining city’s historic uptown, soaking up the nostalgia – and the Guiness.
Here, you’re just steps from the towering old mining headframes and the one mile long and half mile wide Berkeley Pit. Now shuttered, it was once one of the world’s largest copper deposits.
Larry Carden, in a Notre Dame sweatshirt, never misses the parade.
“You’ll see a lot more boos for the Republicans than you will the Democrats, I can guarantee you that,” he says.
That’s a nod to Butte’s long history of Democratic politics and a strong labor movement going back to around 1900, when the “Copper King” mine owners ruled Montana business and media, and bribed their way into political office. Today, Carden, who’s retired, is worried that the mega rich are again influencing politics here, and how expensive life is in his home state.
“Between health care and gas and food, and you go to the store the other day, there’s rib steaks $19.99 a pound, you know,” Carden says.
A political group marches in the St. Patrick’s Day parade in Butte, Montana, March 17 2026
Kirk Siegler/NPR
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This year’s parade followed an unusually turbulent few days in Montana’s political scene – half of its congressional delegation abruptly retired. Despite the state’s recent tilt from purple to deep red, the races for their seats could be more in play now because of the way Senator Steve Daines and Congressman Ryan Zinke, both Republicans, gave up them up and chose their successors. In Daines’ case, he withdrew his candidacy just minutes before the filing deadline.
Like a lot of people in Butte, Carden is a longtime Democrat. But he says he’s grown disillusioned with party politics.
“I would rather everything be independent where there is no party designation and then you have to pay more attention to who the person actually is,” Carden says.
New Candidate opts to go independent
That’s exactly what Seth Bodnar, a former Green Beret running for U.S. Senate, is trying to capitalize on. He joined other candidates mixed in with Irish dancing troupes and fire department floats, as he walked the parade route along Park Street shaking the occasional hand and tossing candy.
In an interview with NPR earlier in Missoula, Bodnar, who recently resigned his post as University of Montana president, pitched what he says would be his bi-partisan appeal.
“I’m an independent,” Bondar says. “When I raised my right hand at the age of 18 and I swore an oath to this Constitution when I joined the military, not to a political party.”.
Person over party used to be the playbook in Montana, which some call just one long Main Street. It’s how former Senator Jon Tester used to win despite being a Democrat as the state got redder.
The day after Bodnar formally announced he was gathering signatures to get on the ballot, his long shot bid got taken a lot more seriously.
Sen. Steve Daines, who was elected to the Senate in 2014, sent shockwaves through the state’s political scene when he announced in a video posted to X that he’d decided not to seek reelection.
Sen. Steve Daines, R-Mont., speaks at the Senate Finance Committee confirmation hearing for Scott Bessent, President-elect Donald Trump’s choice to be Secretary of the Treasury, at the Capitol in Washington, Thursday, Jan. 16, 2025.
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“I’m also very thankful to have served alongside President Trump and my colleagues in the Senate,” Daines said in the video. “Together we built a conservative majority on the Supreme Court, we delivered the largest tax cut in U.S. history, we unleashed American energy dominance and secured our southern border.”
Daines’ late hour withdrawal presumably clears the way for his chosen successor, Kurt Alme, the U.S. Attorney for Montana until he declared his candidacy for Daines’ seat. Daines later said withdrawing earlier could have enticed a prominent Democrat like Tester to enter the race.
Independent Seth Bodnar says it reminds him of the Montana of old.
“We have direct election of senators in the United States in part because of political corruption in this state 125 years ago, Copper Kings trying to buy U.S. Senate seats,” Bodnar says. “That didn’t work back then and it’s not going to work right now.”
But Democrats say Bodnar’s entry as an independent will just split the liberal vote.
The GOP base is angry too
“Montanans are getting very indignant about what they see as out and out dishonesty,” says Roger Koopman, a former Republican legislator and Montana Public Service commissioner from Bozeman.
Koopman says the party establishment’s backroom dealing is a gift to Democrats and especially Seth Bodnar, who he says is a liberal running as an independent.
“They’re going to say, ‘hey, I’m over these Republicans playing games with me, you can’t do that and expect me to vote for you, I’m not going to vote Democrat, but here’s this guy out here who says he’s independent, let me give him a try,’” Koopman says.
Alme has been keeping a low profile. Political pundits say that might be by design. A campaign spokesperson sent NPR this statement: “Anyone could run for this seat. Kurt is running on his record as the Trump-endorsed candidate of common sense who knows how to be tough on violent crime, dismantle drug cartels, and deliver historic tax relief. Voters will decide, and Kurt is confident in his work serving Montana and helping President Trump put America First.”
At Montana State University, political science department chair Eric Austin says he expects party tensions will cool and Republicans will rally around their nominee by November.
“I think in part that speaks to the changes in the electorate in the state,” Austin says. “As the state has become more red, people have more strongly affiliated themselves with the Republican Party and less as independents.”
However, Austin says the midterms will be a referendum on President Trump and there’s growing economic anxiety in Montana. Farmers are getting hurt by Trump’s tariffs. His Iran War has sent fertilizer prices soaring, raised interest rates and the cost of gas.
Back in Butte, at the St. Paddy’s Day parade, longtime Democratic activist Evan Barrett says there’s a resurgence in populist resentment in Montana.
Longtime Montana Democratic party activist Evan Barrett at the St. Patrick’s Day parade in Butte, Montana, March 17 2026
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“It’s almost like a repetition of the past,” says Barrett, a one time economic aide to former Governor Brian Schweitzer.
Ducking into an old storefront to take a break from the spectacle of the parade, Barrett told NPR there’s a feeling in the electorate that a lot of outside money is coming into influence politics, but not staying in Montana and being invested into things like schools.
“So this is a really wild and different year,” Barrett says. “Anybody that tells you they know what’s gonna happen, well, be a bit skeptical.”
President Trump has endorsed last minute Senate candidate Kurt Alme but it’s not clear what kind of effect that might have on voters in November.
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Video: Savannah Guthrie Says She Believes Her Mother Was Taken for Ransom
new video loaded: Savannah Guthrie Says She Believes Her Mother Was Taken for Ransom
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Savannah Guthrie Says She Believes Her Mother Was Taken for Ransom
Savannah Guthrie spoke on the “Today” show in her first interview since her mother, Nancy Guthrie, was abducted from her home near Tuscon, Ariz.
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“The ransom note, notes for ransom requests came. Did you believe those to be real?” “The two notes that we received that we responded to — I tend to believe those are real.” “Really?” “We still don’t know. Honestly, we don’t know anything. We don’t know anything. So I don’t know that it’s because she’s my mom. But yeah, that’s probably — which is too much to bear to think that I brought this to her bedside, that it’s because of me. And I just say, I’m so sorry, Mommy. I’m so sorry. We need answers. We cannot be at peace without knowing. And someone can do the right thing. And it is never too late to do the right thing.”
By Christina Kelso
March 26, 2026
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