The mystery money powering Trump’s second term

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Presidents have always raised money from private donors—to run for office, throw inaugural balls and build presidential libraries.

But Donald Trump has turned his second term into an unprecedented fundraising blitz, raising well over half a billion dollars from wealthy donors and stashing it in a sprawling network of nonprofits, cultural institutions and committees that he and his allies control.

In many cases, details about where the cash is coming from or how it is being spent are shrouded in secrecy, leaving big gaps in the public’s understanding of a significant dynamic at the center of Trump’s presidency.

“President Trump is the most dominant force in American politics—from fundraising to endorsements to delivering on his commonsense America First agenda,” White House spokesman Davis Ingle said.

About this story

The Journal reviewed financial disclosures, lobbying disclosures, tax documents and previous reporting to analyze how Trump-linked groups are raising money. The top-line fundraising figures include donations from companies, individuals and other entities, but exclude money approved by Congress. Celia Bernhardt, Anthony DeBarros, Mathylda Dulian, Alexander Gureghian, John Millsap and Greta Reich contributed to this project.

Photo source: AP

This article may be periodically updated.

Write to Marianne LeVine at marianne.levine@wsj.com, Maggie Severns at maggie.severns@wsj.com and Kara Dapena at kara.dapena@wsj.com