Ten Megadonors Bankrolled More Than Half of Trump's $300M White House Beautification Fund

A newly released tax filing reveals that the Trust for the National Mall — the nonprofit channeling private money into President Trump's White House renovation and Washington beautification agenda — collected $320 million in contributions last year, a staggering leap from under $10 million in 2024. More than half of that haul came from just ten donors, each writing checks between $10 million and $25 million, though their names were not included in the public filing.

Some donors have been previously identified through separate disclosures. Apple contributed roughly $25 million toward the White House ballroom, Microsoft chipped in around $10 million, and YouTube gave $22 million as part of a settlement stemming from a 2021 civil lawsuit Trump filed against its parent company, Alphabet. The Laura & Isaac Perlmutter Foundation — created by former Marvel Entertainment chairman Ike Perlmutter and his wife — disclosed a $20.3 million contribution in its own tax filing, explicitly labeled for the White House ballroom project. Three unnamed donors gave $25 million each.

The trust spent $210 million last year, mostly on capital improvements and maintenance. Among the vendors paid was Florida Architectural Precast, a concrete manufacturer that received over $800,000 and whose prior client list includes Trump's Mar-a-Lago club and two of his Florida golf courses. The firm's COO posted photos from the White House grounds, including one taken inside the Oval Office, while publicizing the company's work on the Rose Garden renovation.

Trump's chief fundraiser, Meredith O'Rourke, has been aggressively soliciting major corporations with specific asks sometimes reaching eight figures, according to prior reporting. No laws cap how much a president can raise for such nonprofits, and public donor disclosure isn't legally required. Congressional Democrats have raised conflict-of-interest alarms given that many contributing companies have active business before Trump's administration, but so far no legal prohibition applies. The White House has maintained that Trump cannot be influenced by donations.