URGENT UPDATE: New reports confirm that the funding details for the controversial construction of a new White House ballroom are emerging as President Donald Trump reiterates that the project is backed entirely by private donations. During a press briefing on Wednesday, Trump stated, “The government is paying absolutely nothing,” while revealing that the estimated cost has surged to approximately $300 million—an increase of $50-$100 million from previous estimates.
As the project gears up, sources indicate that the entire East Wing of the White House could be demolished as soon as this weekend, marking a significant step in the renovation. The urgency surrounding this construction highlights the administration’s commitment to transforming the historic venue, appealing to potential donors from influential sectors.
While a comprehensive list of donors has not yet been made public, attention is drawn to several major companies from the tech and cryptocurrency realms, including Amazon, Apple, Google, Meta, and Microsoft. Notably, cryptocurrency giants like Coinbase, Ripple, and Tether are also reportedly involved in the funding efforts. The Winklevoss twins, prominent figures in the crypto space, are among the anticipated attendees at an upcoming fundraising dinner.
Trump’s administration has fostered lucrative contracts with these tech companies, having secured significant deals for AI and cloud services during his second term. For instance, Amazon Web Services is expected to receive up to $1 billion in cloud-credit incentives. As the crypto sector flourishes under Trump’s policies, his family reportedly benefits from billions invested in similar ventures.
In a surprising turn, Alphabet, Google’s parent company, has pledged $22 million toward the ballroom project as part of a legal settlement with Trump following his YouTube ban post-January 6, 2021. This amount is earmarked for the Trust for the National Mall, a nonprofit dedicated to preserving national landmarks, including the White House.
Further financial backing comes from Paolo Tiramani, CEO of a construction firm, who has donated $10 million in stock to the Trust to support the ballroom’s construction. The Trust’s role is crucial, managing donations while collaborating with the National Park Service and the White House on design and construction efforts.
Despite calls from preservation groups to halt the project, the Trump administration is moving forward rapidly. Officials maintain that the renovations are extensive and necessary for the historic venue’s future. Trump’s assurance of military cooperation underscores the project’s gravity, stating, “We’re also working with the military on it because they want to make sure everything is perfect.”
The ballroom’s construction is emblematic of Trump’s broader vision for his presidency, aiming to leave a lasting legacy through significant infrastructure enhancements. The forthcoming weeks will be pivotal as demolition begins and donor contributions become clearer.
As the situation develops, the public waits to see how this ambitious project unfolds and what impact it will have on the landscape of the White House. Stay tuned for more updates on this evolving story.
