What is an Inaugural Fund? Amazon, Altman, Meta Donate to Donald Trump’s Fund [Video]

Several tech titans have praised President-elect Donald Trump since he won the election and now, they or their companies have gone a step further and donated to his inaugural fund.

According to media reports, Amazon, Meta, and OpenAI‘s chief Sam Altman have all made donations to the fund in recent days.

What Is an Inaugural Fund?

An inaugural fund is a fundraising effort that supports the inauguration of the new president as well as its related events.

The Presidential Transition Enhancement Act, which Trump signed into law in 2020, requires presidential candidates to “create and release an ethics plan for their transition team prior to the election,” according to the nonpartisan Center for Presidential Transition.

The law governs the process between Election Day and Inauguration Day.

The President-elect and his …