Tech billionaires Zuckerberg, Bezos and Altman are helping finance Trump’s inauguration. What you need to know

Tech executives, seeking to defuse tensions with newly elected President Donald Trump, are opening their wallets after the former president orchestrated a historic return to the White House.

OpenAI confirmed Friday that its CEO, Sam Altmanplans to personally donate $1 million to Trump’s inaugural fund, becoming the latest tech billionaire to try to mend their rocky relationship with the new administration.

Meta, the parent company of popular social media apps Facebook and Instagram, also confirmed it has donated $1 million to Trump’s inaugural fund. Amazon did not respond to a request for comment, but reportedly plans to donate the same amount to Trump’s inaugural fund.

While technical companies have given to previous presidential inaugurations, the donations come as Trump and Republicans look to reform policies affecting social media, electric vehicles, artificial intelligence and more.

Read more: Elon Musk went all in to elect Trump. What a second Trump presidency could mean for big tech

Trump has criticized Big Tech in the past, accusing some of the world’s largest online platforms, such as Meta and Google, of censoring conservative speech. The platforms have long denied these allegations, but the tech industry’s relationship with Republicans became increasingly fraught after social media companies temporarily suspended Trump’s accounts following the Jan. 6, 2001, attack on the U.S. Capitol.

During Trump’s first presidency, technology executives including from Google, Facebook and Apple clashed with his administration for banning immigrants from certain Muslim-majority countries from entering the United States.

Trump’s campaign, backed by Tesla and SpaceX CEO Elon Musk, and other major tech companies did not respond to requests for comment.

Here are the tech executives and companies that donated to Trump’s inauguration:

OpenAI

Altman said in a statement that “President Trump will lead our country into the age of AI” and Altman was “pleased to support his efforts to ensure America stays ahead.”

Federal and state lawmakers, including in California, have tried to place guardrails around the development of artificial intelligence. While AI tools can make it easier for people to sort through large amounts of information, the rapid development of the technology has also raised concerns about national security, disinformation and job losses.

But as tech companies face stiff competition, including from China, they also worry that regulations could slow them down.

Trump has said he plans to reverse President Biden’s 2023 executive order on AI, which aimed to address some security concerns surrounding AI. Analysts expect that Trump could give a major boost to AI innovation.

Altman has also spoken with Musk, an outspoken Trump supporter who has spent at least $200 million to support the former president’s 2024 campaign, and is looking for ways to cut government spending amid AI safety concerns. Musk, an early investor in OpenAI who also runs rival AI startup XAI, has accused the company of putting profits and commercial interests ahead of the public interest. OpenAI, controlled by a non-profit organization, is reportedly trying to restructure as one profit motive company.

At the New York Times DealBook Summit This year, Altman didn’t seem too concerned about Musk’s strong ties to Trump. “I feel quite strongly that Elon will do the right thing and that it would be completely un-American to use political power to the extent that Elon would harm competitors and benefit his own companies,” he said.

Meta

This is the first time Meta has donated to a presidential fund, but the company has previously supported congressional committees from both parties, Meta spokesman Andy Stone said in an email.

Meta’s $1 million donation to Trump’s inaugural fund was made at Zuckerberg’s request, the Wall Street Journal reported.

Zuckerberg, who raised concerns about Trump’s immigration policies during his first presidency, has strengthened ties with Trump. He met Trump at a dinner at his private club at Mar-a-Lago and presented him with Ray-Ban smart glasses from Meta, the Journal said.

After attempting to assassinate Trump in July, Zuckerberg told Bloomberg in an interview that Trump’s response of raising his fist in the air was “one of the coolest things I’ve ever seen in my life.”

Trump’s campaign has put forward proposals that would affect online platforms, including legislation to “dramatically limit the ability of major social media platforms to restrict free speech.”

Amazon

Bezos is also trying to win over Trump and plans to meet the president-elect next week at his Mar-a-Lago club, the Wall Street Journal reported, citing people familiar with the matter.

The e-commerce giant contributed to Trump’s first presidential inauguration in 2017, donating approximately $58,000. (Biden reportedly did not accept technology donations for his 2021 inauguration.)

Trump has battled with Amazon in the past, falsely accusing the Bezos-owned Washington Post of being a lobbyist for the tech giant. Trump also accused Amazon of a “post office scam.”

Bezos’ companies could benefit from the Trump administration’s policies. Amazon Web Services and its space company Blue Origin, which competes with SpaceX, have contracts with the federal government and are taking a friendlier tone toward Trump, according to a report by the Washingtonpost.

Read more: What you need to know about Elon Musk’s contracts with the federal government

At the New York Times DealBook Summit, Bezos seemed optimistic about the new administration, noting that Trump “seems to have a lot of energy in reducing regulation.”

“If I can help him with that, I will help him, because we have too much regulation in this country,” Bezos said.

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This story originally appeared in the Los Angeles Times.