The Trump administration is gradually revealing details about the funding for a new White House ballroom, although a complete list of donors has not yet been made public. President Donald Trump stated in the Oval Office on Wednesday that the project is being financed entirely by himself and some associates, asserting, "The government is paying absolutely nothing."

During his remarks, Trump also raised the estimated cost of the ballroom by $50 to $100 million, now placing it at approximately $300 million, which is higher than previous estimates of $200 to $250 million. Earlier this month, the administration released a list of individuals and companies expected to attend a dinner related to the construction project. While the full donor list remains undisclosed, attendees include major players from the tech and cryptocurrency sectors, such as Amazon, Apple, Google, Meta, Microsoft, Coinbase, Ripple, and Tether. Notably, tech investors Cameron and Tyler Winklevoss were also included in the guest list.

Several companies have already secured lucrative contracts during Trump's second term. Microsoft and Google have been awarded contracts for their artificial intelligence and cloud services, while Amazon Web Services could receive up to $1 billion in cloud-credit incentives. The cryptocurrency industry has benefited significantly under Trump, with his family reportedly amassing billions through crypto ventures during his presidency. Additionally, companies like Palantir and Lockheed Martin hold substantial contracts with the administration, including agreements with the Defense Department.

Trump mentioned the military's involvement in the ballroom project, stating, "We're also working with the military on it because they want to make sure everything is perfect. And the military is very much involved in this. They want to make sure everything is absolutely beautiful."

The White House has not provided clear information on how donations will be utilized for the project. However, it appears that funds are being directed to the ballroom in various ways. For instance, Alphabet, Google's parent company, agreed to contribute $22 million as part of a legal settlement with Trump after his YouTube ban following the January 6, 2021, incident. This amount will be donated on Trump's behalf to the Trust for the National Mall, a 501(c)(3) nonprofit organization focused on the restoration and preservation of the National Mall, to support the ballroom's construction.

Paolo Tiramani, CEO of a construction firm and a donor associated with the project, has also contributed $10 million in stock to the Trust for the National Mall, as confirmed by his company. Donations for the ballroom are being managed by the Trust, which supports the National Park Service and is dedicated to the restoration of the National Mall and the White House.

Meredith O'Rourke, the financial director of Trump's 2024 campaign, is reportedly leading the fundraising efforts for the ballroom. The Trust's role is to oversee donations while the National Park Service and the White House handle the design and construction aspects of the project. The renovation is more extensive than previously indicated, with a preservation group requesting a pause on the ballroom project. However, the White House plans to begin demolishing the entire East Wing as early as this weekend as part of the renovation process.