Tech moguls Sam Altman, Mark Zuckerberg, and Jeff Bezos have each pledged $1 million to President-elect Donald Trump’s inauguration fund, a move that signals a shift in their relationship with the incoming administration.
Altman, the CEO of OpenAI, confirmed the personal $1 million donation on Friday, following news that Meta, the parent company of Facebook and Instagram, has already contributed a similar amount to the fund.
Amazon has also promised a $1 million contribution.
The donations are seen as an effort to patch up previously contentious relationships between some Silicon Valley executives and Trump.
In particular, Zuckerberg, who once banned Trump from Facebook, was seen dining with the former president at his Mar-a-Lago club in Florida in late November.
This came just months after Trump had threatened to imprison Zuckerberg, accusing him of interfering in the 2020 election.
In addition to the financial contributions, Amazon has confirmed that it will stream Trump’s inauguration in January on its Prime Video platform.
This marks a shift from Amazon’s previous contributions to political events, including a $276,000 donation to Biden’s 2021 inauguration fund and $58,000 to Trump’s 2017 fund.
Altman, in a statement to NPR, expressed his enthusiasm for Trump’s leadership, saying: "President Trump will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead."
Tech industry historian Margaret O'Mara, from the University of Washington, noted that the donations reflect a new approach for Silicon Valley executives.
"It’s just a recognition that there’s not much to be gained in outspoken opposition, but perhaps there is something to be gained by being very clear about your support and hope that Trump does well," O'Mara said.
The move is also seen as an attempt to avoid the friction between the tech industry and Trump’s first term, which was marked by frequent conflicts over media coverage and regulations.
Trump had publicly criticised Bezos, whose company owns The Washington Post, for its coverage of his presidency. The conflict escalated when the Pentagon awarded a $10 billion contract to Microsoft, rather than Amazon, in 2019.
In contrast, many in Silicon Valley now hope that Trump will loosen regulations, particularly in sectors like artificial intelligence and cryptocurrency, where major investments have been made by companies like OpenAI and Meta.
Musk’s role as an adviser in the Trump administration has also been viewed as a possible avenue for tech executives to gain influence with the incoming president.
Despite past tensions, Altman, Zuckerberg, and Bezos are all seeking to establish a more amicable relationship with Trump, whose administration they hope will support the tech industry's growth and avoid imposing stringent regulations.
