Corporate donors are sounding the alarm about Trump’s presidential library fund

U.S. President Donald Trump at Dream City Church in Phoenix, Arizona, U.S., April 17, 2026. REUTERS/Evan Vucci

In 2025, four major companies — Paramount, ABC, Meta (which includes Facebook, Instagram, WhatsApp, and Threads), and the Elon Musk-owned X, formerly Twitter — agreed to donate millions of dollars to fund Donald Trump's presidential library in Miami. Altogether, the donations totaled at least $63 million for the library, which according to President Trump, could double as a Trump-branded hotel.

Senate Democrats have been probing that $63 million, but according to The New Republic's Greg Sargent, a lot of questions remain unanswered.

"After the companies agreed to these shakedowns — sorry, settlements — the fund created to receive donations was dissolved last September," Sargent explains in an article published on April 20. "Since then, Senate Democrats have been asking: What happened to the money? Now, there's been an important new turn in this saga. The four companies have provided fresh information to Senate Democrats in written responses to their questions. For these Democrats, those responses — obtained by The New Republic — raise more questions than they answer."

Sargent, a former Washington Post columnist, adds, "In these formal replies, all four companies confirmed that they did pledge that money to Trump's library — itself a notable development. More importantly, however, the Democrats say the responses reveal that the money is still largely unaccounted for."

According to Sargent, Sen. Elizabeth Warren (D-Massachusetts) has "taken the lead in tracking this money."

"The companies all settled lawsuits with Trump after his 2024 victory — Paramount for $16 million over a claim of fraudulent editing by CBS; Meta for $25 million, and X for around $10 million over supposed censorship of Trump; and ABC for $15 million over alleged defamation," Sargent reports. "Experts criticized the lawsuits as weak and denounced the settlements as akin to extortion payments. Under those settlements, the companies donated virtually all that money to the library project, totaling at least $63 million. But then the fund where most of that money appeared to be directed — the Donald J. Trump Presidential Library Fund — was dissolved by Florida officials amid the failure to file a required annual report."

Warren is demanding answers about the $63 million.

The liberal senator told Sargent, "Not one of these companies can say with any clarity where their multi-million-dollar donations to Donald Trump's library slush fund are, or where they will go…. Tens of millions of dollars are unaccounted for, and the American people are left completely in the dark."

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