Thursday, December 9, 2021

President Biden received large donations from Pfizer for inauguration event

The new fillings by the Federal Election Commission (FEC) has shown that President Biden’s inaugural committee raised $61.8 million for the televised virtual event that marked the beginning of his administration, receiving large contributions from corporations like Pfizer and Uber, labor unions and wealthy individuals.

The FEC revealed that Pfizer Inc, the maker of one of the COVID-19 vaccines, Lockheed Martin and Boeing, two of the nation’s largest defense contractors, along with other big companies, gave $1 million apiece to the inaugural committee.

Also providing $1 million each were AT&T (T), Bank of America (BAC), Comcast (CMCSA), medical technology company Masimo Corp. (MASI), and a union, the International Brotherhood Of Electrical Workers (IBEW).

Around 12 individuals donated $500,000 each, according to the filing. Google contributed more than $337,000 to the committee, while Amazon chipped in about $276,000. 

While the committee hasn’t detailed its spending, it included televised performances by Lady Gaga and Garth Brooks.

The roughly $61.8 million raised by Biden’s inaugural committee exceeds the amount raised by former President Obama for his inaugurations. In 2009, Obama’s inaugural committee brought in roughly $53 million. In 2013, he raised about $43 million for his second inauguration. But it falls well behind that of former President Donald Trump, who pulled in more than $100 million for his 2017 inauguration.


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