Democratic Party - Democratic National Committee

01/20/2025 | Press release | Distributed by Public on 01/20/2025 13:17

Trump Is Putting Billionaires Worth Over $1 Trillion First and (Literally) Leaving the American People in the Cold Arrow

In response to Trump cramming his billionaire cronies worth over $1 trillion into the Rotunda while leaving his supporters and political allies out in the cold, DNC Rapid Response Director Alex Floyd released the following statement:

"After packing his Cabinet full of billionaires, Donald Trump did the same thing at his inauguration - leaving his own supporters literally out in the cold while billionaires worth over $1 trillion got a front row seat. Trump is making his priorities clear on Day One: Anytime he has the chance, he'll put himself and his ultra-wealthy backers ahead of the American people."

NEW: The net worth of the billionaires with a front row seat to Trump's inauguration amounts to at least $1 trillion.

Forbes: "The Real Time Billionaires List"

Elon Musk's net worth is $433.9 B.

Mark Zuckerberg's net worth is $211.8 B.

Jeff Bezos's net worth is $239.4 B.

Bernard Arnault's net worth is $179.6 B.

Sergey Brin's net worth is $154.0 B.

Miriam Adelson's net worth is $31.9 B.

Isaac Perlmutter's net worth is $4.9 B.

John Paulson's net worth is $3.8 B.

Tim Cook's net worth is $2.2 B.

TheStreet: "As of early January 2025, [Sundar Pichai's] net worth is reported to be in excess of $1.3 billion."

Donald Trump surrounded himself with billionaire cronies during his inauguration, kicking out elected officials to make room for them.

Patricia Murphy, Atlanta Journal-Constitution: "Per the pool report, governors, including @BrianKempGA are being sent to the overflow room, while Elon Musk, Mark Zuckerberg, and other tech CEOs and inaugural donors get the seats inside."

Meridith McGraw, Wall Street Journal: "Donors and moguls in the Rotunda for Trump's Inauguration: Tim Cook, Mark Zuckerberg, Jeff Bezos, Sundar Pichai, Miriam Adelson, John Paulson, Isaac Perlmutter"

Meredith Lee Hill, Politico: "TikTok CEO Shou Chew is in the Rotunda"

Susan Li, Fox Business: "4 out of the 5 richest attending the #Trump inauguration

"More than $11 Trillion in #stock value in attendance …

"• LVMH' Bernard Arnault"

John Bresnahan, Punchbowl News: "No congressional spouses allowed in Rotunda but billionaires get to bring theirs

"$$$ talks"

Trump and his billionaire Cabinet picks want to gift tax breaks to the ultra-rich and big corporations while causing an "inflation bomb" as part of their Project 2025 agenda.

US News: "The total net worth of the billionaires in the Trump administration, as of Dec. 10 equals at least $382.2 billion - which is more than the GDP of 172 different countries."

Axios: "16 Nobel economists see a Trump inflation bomb"

"Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November."

Axios: "Trump's inflation bomb: How his second-term plans could make it worse"

The Atlantic: "Trump's Plan to Supercharge Inflation"

Wall Street Journal: "A drumbeat of reports from Wall Street economists have warned that Trump's plans could substantially slow economic growth while driving up consumer prices."

Washington Post: "Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Further cutting corporate taxes … would primarily benefit large firms."

Center for American Progress: "Project 2025's Tax Plan Would Raise Taxes on the Middle Class and Cut Taxes for the Wealthy"

CBS News: "Millions of low- and middle-class households would likely face significantly higher taxes under the Project 2025's proposals."

Trump spent the campaign repeatedly promising his ultra-wealthy backers political favors while begging for campaign cash.

Washington Post: "Trump makes sweeping promises to donors on audacious fundraising tour"

"Trump sometimes makes requests higher than his team expects to receive, sometimes surprising his own advisers because he is asking for so much money. By frequently tying the fundraising requests within seconds of promises of tax cuts, oil project infrastructure approvals and other favorable policies and asking for sums more than his campaign and the GOP can legally accept from an individual, Trump is also testing the boundaries of federal campaign finance laws, according to legal experts."

Trump's utter failure of an economic record put working people last by rigging the economy for billionaires, skyrocketing the deficit, and creating new incentives for companies to ship jobs overseas.

Washington Post: "For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year"

The Guardian: "Donald Trump's $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history."

New York Times: "The 2017 corporate tax cuts signed into law by Mr. Trump have not increased government revenue … In fact, they have had the opposite effect."

CBS News: "Two years after Trump tax cuts, middle-class Americans are falling behind"

Bloomberg: "The Offshoring of U.S. Jobs Increased on Trump's Watch"

Washington Post: "Trump promised 'America First' would keep jobs here. But the tax plan might push them overseas."