Meta and Facebook CEO Mark Zuckerberg (L), CEO of Apple Tim Cook, and Founder of Amazon and Blue Origin Jeff Bezos attend services as part of Inauguration ceremonies at St. John’s Church on January 20, 2025 in Washington, D.C. (Photo: Anna Moneymaker/Getty Images)
The very ripeness for scandal this time around calls for reasonable restrictions on the sources and amounts of inaugural donations.
U.S. President Donald Trump sounded a lot of populist notes on the campaign trail. But as he took the oath of office for the second time, he was joined onstage by billionaires and CEOs who’d spent millions to be there—leaving supporters who’d traveled across the country to attend literally out in the cold.
Presidential inaugurations have always been an opportunity for wealthy special interests to curry favor with the incoming administration with generous inaugural donations. But the nation has never seen influence peddling like we just witnessed at Trump’s second inauguration.
The sheer volume of today’s inaugural donations suggests that wealthy special interests believe it is worth the investment.
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All the self-reporting donors—including Big Tech firms like Google, Microsoft, Meta, Amazon, and OpenAI—pledged $1 million or more. The cryptocurrency firm Ripple pledged $5 million. In fact, the cryptocurrency industry even hosted its own inaugural ball.
And of course, Wall Street is cozying up with major donations from Goldman Sachs, Bank of America, and billionaire hedge fund manager Ken Griffin.
“EVERYBODY WANTS TO BE MY FRIEND!!!” Trump marvels on his Truth Social account.
As the Washington Post faces a staff rebellion and plummeting subscription rates, billionaire owner Jeff Bezos has introduced a new mission statement: “Riveting Storytelling for All of America.”
The Washington Post‘s new slogan, “Riveting Storytelling for All of America,” is “meant to be an internal rallying point for employees,” the New York Times (1/16/25) reported.
The new path forward, as introduced in a slide deck to staff by Suzi Watford, the paper’s chief strategy officer, demands that the paper “understand and represent interests across the country,” and “provide a forum for viewpoints, expert perspectives and conversation” (New York Times, 1/16/25). It will do this as “an AI-fueled platform for news” that delivers “vital news, ideas and insights for all Americans where, how and when they want it.”
This appears to mean shifting resources toward opinion, specifically opinions from the right. According to the New York Times report:
Bezos has expressed hopes that the Post would be read by more blue-collar Americans who live outside coastal cities, mentioning people like firefighters in Cleveland. He has also said that he is interested in expanding the Post’s audience among conservatives.
The Post has already begun to consider ways to sharply increase the amount of opinion commentary published on its website, according to two people with knowledge of the talks. An adviser to the Post, Lippe Oosterhof, has conducted brainstorming sessions about a new initiative that would make it easier to receive and publish opinion writing from outside contributors.
How AI is meant to play into this is unclear.
The Post already has more columnists than you can shake a stick at. This new direction sounds like the Foxification of the Washington Post, a move away from any attempt to hold the powerful to account, toward inexpensive clickbait punditry.
‘Make money’
The red area represents the proportion of Jeff Bezos’s total wealth that would be required to cover the Washington Post‘s losses for a year.
Watford’s slide deck presented three pillars of the Post‘s new model: “great journalism,” “happy customers” and “make money.” The Postlost roughly $77 million in 2023. (It also lost some 250,000 subscribers after Bezos killed the paper’s planned endorsement of Kamala Harris—FAIR.org, 10/30/24.)
In order to make money, its new “Big Hairy Audacious Goal” (yes, that’s what the Post slide deck apparently called it) is to reach 200 million “paying users.” The paper currently has about 3 million subscribers, making it an “audacious” goal indeed. As the Times pointed out, even if the Post could achieve the impossible task of monetizing every visit to its website, no major corporate media outlet has been getting more than 100 million monthly unique visits—paying and non-paying—outside of the spike in traffic around the election.
Back in 2019, the Post was claiming 80–90 million unique visitors per month. Those visits peaked in November 2020 at 114 million, but quickly and steadily dropped after Biden’s inauguration. The Post stopped posting its audience numbers online after January 2023, when they were down to 58 million.
Of course, most online corporate media have been struggling. The thing about the Post is that its absurdly wealthy owner, the second-richest person on Earth, can easily afford to lose $77 million a year. That’s 0.03% of Bezos’s current net worth.
‘We are deeply alarmed’
Guardian (1/15/25): “The plea from staff…comes a week after the Post laid off roughly 100 employees…roughly 4% of the publication’s staff.”
No doubt the Post needs help. Just days before the new mission statement was revealed, over 400 staff members signed a letter to Bezos asking for a meeting (Guardian, 1/15/25). The letter read:
We are deeply alarmed by recent leadership decisions that have led readers to question the integrity of this institution, broken with a tradition of transparency, and prompted some of our most distinguished colleagues to leave, with more departures imminent.
Bezos’s response—a slide deck about “riveting storytelling” on “an AI-driven platform” that prioritizes churning out opinions to draw in conservatives—is hardly likely to ease the mind of any serious journalist at the paper.
Nor is trying to “expand the Post audience among conservatives,” while still paying lip service to “great journalism,” likely to solve the Post‘s problems. As CNN‘s former CEO Chris Licht discovered (FAIR.org, 6/8/23), you can’t do good journalism while trying to appeal to both sides in the context of an increasingly radical right, because that side demands acceptance of lies and conspiracy theories that are incompatible with actual journalism.
When Bezos bought the Post (Extra!, 3/14), he assured the paper’s employees that “the paper’s duty will remain to its readers and not to the private interests of its owners.” That sentiment was repeated in Watford’s slide deck this week. But Bezos’s actions in the past months—including the killing of the Harris endorsement, Amazondonating $1 million donation to Trump’s inaugural fund and paying Melania Trump $40 million for her self-produced documentary, and, most recently, Bezos appearing onstage with other multibillionaires at Trump’s inauguration—make clear that the principle is as meaningless to Bezos as the slogan that debuted after Trump’s first election: “Democracy Dies in Darkness.”
That slogan will continue to adorn the front page for the time being, perhaps in the hope that readers searching for an actual news organization that holds those in power to account will be fooled into subscribing.
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The cartoon depicts Jeff Bezos, as well as Mark Zuckerberg and other media and tech moguls, kneeling and holding up bags of money before a massive Donald Trump. Photo / Ann Telnaes
An award-winning political cartoonist for the Washington Post has announced her resignation after a cartoon depicting the newspaper’s billionaire owner grovelling before United States President-elect Donald Trump was rejected.
Ann Telnaes posted on Substack late Friday local time that this was the first time she “had a cartoon killed because of who or what I chose to aim my pen at”.
The cartoon – which she included in her post – depicts Amazon founder and Washington Post owner Jeff Bezos, as well as Facebook and Meta founder Mark Zuckerberg and other media and tech moguls, kneeling and holding up bags of money before a massive Trump.
Also shown is a prostrated Mickey Mouse, the symbol of the Disney Company, which owns ABC News. The television network recently reached a US$15 million ($26m) settlement with Trump after he sued for defamation over reporting on his sexual abuse trial in New York.
Telnaes wrote that while previous sketches of hers had been rejected, this was the first time that had happened because of her “point of view”.
“That’s a game changer … and dangerous for a free press,” she said.
The cartoon depicts Jeff Bezos, as well as Mark Zuckerberg and other media and tech moguls, kneeling and holding up bags of money before a massive Trump. Photo / Ann Telnaes
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Amazon and Meta have both announced US$1m donations to Trump’s inauguration fund, as reportedly has Cook in a personal capacity.
Elon Musk and the wife of House Speaker Mike Johnson (R-La.) applaud during a House Republican Conference meeting on November 13, 2024 in Washington, D.C. (Photo: Andrew Harnik/Getty Images)
“If there was ever a moment when progressives needed to communicate our vision to the people of our country, this is that time,” wrote Sen. Bernie Sanders. “Despair is not an option.”
A Bloomberg analysis of billionaire wealth published Tuesday found that the combined fortunes of the 500 richest people on the planet surpassed $10 trillion this year, a finding that came shortly after U.S. Sen. Bernie Sandersissued an urgent call to action to prevent the emergence of “an oligarchic and authoritarian society.”
The new analysis notes that the world’s top 500 billionaires “got vastly richer” this year with the help of “an indomitable rally in U.S. technology stocks.”
Just eight billionaires—Elon Musk, Mark Zuckerberg, Jensen Huang, Larry Ellison, Jeff Bezos, Michael Dell, Larry Page, and Sergey Brin—added more than $600 billion to their collective wealth in 2024 and accounted for 43% of the $1.5 trillion increase in net worth among the world’s 500 richest people, according to Bloomberg.
“But it was Musk—the so-called ‘first buddy’ of President-elect Donald Trump after unprecedented support for his reelection campaign—who dominated the world’s wealthiest in 2024,” Bloomberg observed, adding that Trump himself also saw his fortune surge to a record high this year, “boosted by the performance of his majority stake in Trump Media & Technology Group Corp.”
Musk’s use of his enormous fortune to influence the U.S. political system—including via his purchase of one of the world’s largest social media platforms and donations to Trump’s 2024 campaign—amplified existing concerns about the corrosive impact of massive wealth concentration on democracy.
“They do not believe in democracy—the right of ordinary people to control their own futures. They firmly believe that the rich and powerful should determine the future.”
In an email to supporters on Monday, Sanders (I-Vt.) called the rapid shift toward oligarchy in the U.S. “the defining issue of our time,” warning that billionaires have come to increasingly dominate not only “our economic life, but the information we consume and our politics as well.”
“A manifestation of the current moment is the rise of Elon Musk, and all that he stands for,” Sanders wrote, pointing to Musk’s outsize influence on the 2024 election and his key role in shaping Trump’s billionaire-dominated Cabinet.
“But it’s not just Musk. Billionaire owners of two major newspapers overrode their editorial boards’ decisions to endorse Kamala Harris, while many others are kissing Trump’s ring by making large donations to his inauguration committee slush fund,” the senator continued. “They do not believe in democracy—the right of ordinary people to control their own futures. They firmly believe that the rich and powerful should determine the future.”
Progressives, Sanders wrote, have a “radically different vision,” one that prioritizes “an economic system based on the principles of justice,” “a vibrant democracy based on one person, one vote,” and making “healthcare a human right.”
“Even though we are not going to succeed in achieving that vision in the immediate future with Trump as president and Republicans controlling Congress, it is important that vision be maintained and we continue to fight for it,” wrote Sanders.
Since Trump’s victory in the 2024 election, Sanders has focused heavily on the need to organize the working class to combat the threat posed by Musk and other far-right billionaires who have amassed obscene wealth and political power.
In his email on Monday, the senator said he intends to “travel, organize, hold events, and create content that reaches people where they are” in the coming weeks as part of the “struggle to determine where we go from here.”
“Will this effort be easy?” asked Sanders. “No, of course it will not. Can it be done? We have no choice. If there was ever a moment when progressives needed to communicate our vision to the people of our country, this is that time. Despair is not an option. We are fighting not only for ourselves. We are fighting for our kids and future generations, and for the well-being of the planet.”
Meta, led by Mark Zuckerberg (left), and Amazon, led by Jeff Bezos, gave $1m each. Photograph: Getty Images
Donations, not restricted by campaign finance laws, come as industries seek favor with incoming administration
US business leaders are spending big on Donald Trump’s second inaugural fund, which is predicted to exceed even the record-setting $107m raised in 2017.
The donations, which are not restricted by campaign finance laws, come as industries and business leaders seek to curry favor with the incoming administration after the president-elect decisively won a second, non-consecutive term in November.
Some of the planned donationsreportedly include $1m each from Jeff Bezos’s Amazon, OpenAI CEO Sam Altman and Facebook parent company Meta, led by Mark Zuckerberg.
Hedge-fund manager Ken Griffin has said he plans to donate $1m, Bloomberg reported; Uber and its CEO Dara Khosrowshahi are reported to be chipping in $1m each; and Toyota, Ford and General Motors are each peeling off $1m. Ford is also reportedly coupling its donation with a fleet of vehicles.
“EVERYBODY WANTS TO BE MY FRIEND!!!” Trump wrote in a post on Truth Social on Thursday.
Many senior executives in US industries and finance have already made the trip to Mar-a-Lago, Trump’s transition team headquarters, or are planning to, according to reports, as they seek to gain influence and access to the incoming administration that’s threatening to shake up international trading norms.