Pilgrim’s Pride and Ripple, two of the largest donors to President Donald Trump’s 2025 inauguration, have both experienced favorable outcomes following their substantial contributions, the Wall Street Journal reported Tuesday.
Critics have raised concerns about potential political influence, citing the timing of the donation and subsequent approval.
Pilgrim’s Pride, a leading U.S. chicken processor, reportedly donated $5 million to the inauguration fund. Shortly thereafter, its Brazilian parent company, JBS, received approval from the U.S. Securities and Exchange Commission (SEC) for a long-sought dual listing on the New York Stock Exchange.
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According to The Journal's report, this approval, despite JBS's controversial history, including bribery charges and a $110 million fine, marked a significant milestone for the company.
Ripple, a leading cryptocurrency firm, made a significant contribution of approximately $4.9 million to Trump's second inauguration.
In March, Ripple also reached a settlement with the SEC, resolving a protracted legal dispute that had begun in 2020. The SEC had alleged that Ripple's XRP token was an unregistered security. Under the terms of the settlement, Ripple agreed to pay a reduced fine of $50 million, significantly less than the $125 million initially imposed.
"Trump’s record inaugural fundraising of nearly $250 million totaled almost as much money as the last four combined. That was built in part on big political spending by companies that had little track record of giving outsize sums, recently released campaign finance records show," the report said.
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Several donors have been appointed to prominent positions within the administration. Oil companies that contributed $1 million or more were able to avoid tariffs after meeting with Trump early in the administration, per the report.
The report further revealed that Trump's inaugural committee raised a record $170 million for his second inauguration in January. This is more than double the amount raised for his first inauguration in 2017.
Sam Geduldig, a renowned lobbyist, told The Journal: "Companies gave such large amounts because Trump had gone from a 'fringe candidate' to a figure who had 'completely realigned American politics.'"
AlterNet reached out to the White House for comment.