Who’s Paying for the White House Ballroom? Billionaires, Tech Firms, and Crypto Bros.
Oct 23, 2025 15:27:00 -0400 by Anita Hamilton | #Politics
Left: President Donald Trump holds a rendering of the planned White House ballroom on Wednesday. Right: The facade of the East Wing of the White House is demolished by work crews. (Bloomberg; Getty Images)
Key Points
- The new White House ballroom’s cost increased by 50% to $300 million, to be fully funded by donors.
- Donors include billionaires Stephen Schwarzman and J. Pepe Fanjul, plus crypto entrepreneurs Cameron and Tyler Winkelvoss.
- Tech firms such as Amazon, Apple, Google, and Microsoft, along with crypto firms and defense contractors are also donors.
The stunning site of a demolished East Wing wasn’t the only surprise this week for those eyeing progress on the new White House ballroom. President Donald Trump also announced Wednesday that the price tag would rise 50% above initial estimates to $300 million.
The 90,000 square foot venue with vaulted ceilings and gilded decor will be paid for entirely by donors, including Trump himself, the president has said. While he hasn’t disclosed how much he’ll contribute personally, the White House released a donor list that shows where the rest of the funds will come from.
White House State Ballroom view from East rendering. Photo: The White House
Billionaires, tech firms, and the crypto industry are among the most notable donors, many of whom also gave generously to Trump’s 2025 inauguration. Billionaire donors range from Blackstone CEO Stephen Schwarzman to sugar and real estate magnate J. Pepe Fanjul and his wife Emilia. Other deep-pocketed givers include crypto entrepreneurs Cameron and Tyler Winkelvoss, designer Paolo Tiramini, and oil and gas billionaire Harold Hamm.
The tech industry—whose CEOs also got prime seats at Trump’s Jan. 20 swearing in ceremony—is also well represented. Amazon , Apple , Google , HP Inc., Micron, Microsoft, and Palantir have all pledged an undisclosed amount of funding, according to the White House list. All but Palantir also donated at least $750,000 for the inauguration as well.
Other notable donors include crypto firms Coinbase , Ripple, and Tether, defense and aerospace contractor Lockheed Martin, tobacco companies Altria and Reynolds American, and electrical power and energy infrastructure firm NextEra .
A few members of the administration are also listed as donors. They include the family of Commerce Secretary Howard Lutnick and the Administrator of the Small Business Administration Kelly Loeffler and her husband Jeff Sprecher, who is CEO of New York Stock Exchange parent company Intercontinental Exchange.
Write to Anita Hamilton at anita.hamilton@barrons.com