Donald Trump's first fund is expected to surpass $107 million as major donations are pledged by Jeff Bezos, Sam Altman, and others.

According to the news portal The Guardian, billionaires and major corporations are anticipated to line up donations for Donald Trump's first committee fund, which is projected to surpass the $107 million threshold this time.

As billionaires and leading corporations contribute their share to the Trump administration, the United States President-elect Donald Trump's first committee fund is set to surpass its previous record of $107 million in 2017, according to a report published on Thursday, December 26 by news outlet The Guardian.

The CEOs of Amazon (Jeff Bezos), Meta (Mark Zuckerberg), and OpenAI (Sam Altman) were among the top billionaires. According to the news source, each of them promised a million dollars.

The news story claims that prominent executives, including Uber's CEO Dara Khosrowshahi,Toyota, General Motors, and Ford are among the automakers who have contributed $1 million to the first fund. Along with its financial contribution, the American carmaker Ford has also added a fleet of automobiles.

According to the news article, donations that are not subject to US campaign finance regulations are made by business executives and organizations hoping to gain favor with the next administration.

The inaugural committee offers a "great opportunity for them to curry favor with the incoming administration," according to Brendan Glavin, director of research for the nonprofit organization OpenSecrets, which focuses on money in politics, who spoke to the news portal CNBC last week.

According to the source, Trump wrote on Thursday, "Everyone wants to be my friend!!!" in a post on Truth Social.

According to media sources, a large number of senior executives from US businesses and finance have been or want to visit Trump's transition team headquarters.

According to the news outlet, which also referenced ABC News, the fund has already surpassed the $150 million mark. The administration of Barak Obama raised $42 million in 2013 and $53 million in 2009. According to the news report, the Joe Biden administration raised $63 million in 2021.

The news site was informed by Michael Beckel, director of the political reform advocacy group Issue One, that "one of the oldest adages in Washington is that if you're not at the table, you're on the menu, and the price of admission to have a seat at the table keeps going up."

According to the news portal, Trump advisors have stated that the fundraiser is a symbolic way to apologize for any perceived betrayal of loyalty rather than a financial one.