Trump's White House ballroom: Who will pay for the $250M project and what will they get in return?

Demolition of part of the White House's East Wing has began for Trump’s ballroom project, which he said “won’t interfere with the current building.”

Construction crews started demolishing part of the East Wing of the White House on Monday, October 20, as part of Donald Trump’s project to build a new ballroom, an administration official has revealed, according to NBC News. Back in July, President Trump said that the project “won’t interfere with the current building.”

Demolition of a section of the East Wing of the White House, as construction begins on the new ballroom extension of the White House in Washington, DC, US, on Monday, Oct. 20, 2025. (Photographer: Kent Nishimura/Bloomberg)(Bloomberg)

Trump has said that the $250 million project would be financed by him and private donors. The White House reiterated the message in a recent X post, saying, “For over 100 years, presidents have enhanced the White House, preserving its legacy as a symbol of our nation. Today, President Trump proudly broke ground on the new, big White House Ballroom. Privately funded, it costs taxpayers nothing & will be cherished for generations.”

Who will pay for the ballroom and what will they get in return?

According to CBS News, those who offer donations for Trump’s ballroom may be able to choose to have their names etched inside the White House forever. Another option may be listing donor names on a website, but no final decision has been made, the outlet stated.

Several companies have pledged to donate $5 million or more for the project, the outlet cited sources familiar with the matter as saying. Trump has even had personal discussions with business executives about chipping in.

Google, R.J. Reynolds, Booz Allen Hamilton, Lockheed Martin, Palantir and NextEra Energy have donated. There have also been donations from firms in the tech, manufacturing, banking and health industries, sources told the outlet.

Among the companies that have pledged more than $10 million is Lockheed Martin. While company officials did not confirm the account, Jalen Drummond, vice president of corporate affairs at Lockheed Martin said in a statement, "Lockheed Martin is grateful for the opportunity to help bring the President's vision to reality and make this addition to the People's House, a powerful symbol of the American ideals we work to defend every day."

Some individuals have pledged to contribute too, including Blackstone Group CEO Stephen Schwarzman. The effort is being led by Meredith O'Rourke, a top political fundraiser for Trump, paired with the Trust for the National Mall, an organization that supports the National Park Service. The trust has a nonprofit status, which means donations come with a federal tax write-off.

White House press secretary Karoline Leavitt said in July that private donors and Trump himself would be paying for the 90,000-square-foot annex. Trump said that he was not seeking contributions from foreign sources. "I'm paying for it. I'm paying for it," he said, while predicting that the ballroom could cost $250 million.

According to a White House official, nearly $200 million has been pledged so far. Fundraising is underway.

Potential donors have been given a pledge agreement for "The Donald J. Trump Ballroom at the White House." CBS News reviewed the form, which gives donors the choice to pay in a lump sum or spread their contribution over three installments, which have to be completed by 2027.

Donors, in return, are eligible for "recognition associated with the White House Ballroom." While what kind of recognition they will receive is under discussion, sources told the outlet that their names are expected to be etched in the ballroom's brick or stone. Donors can request to remain anonymous too.

In a statement, the White House said, “President Trump, and other patriot donors, have generously committed to donating the funds necessary to build this approximately $200 million dollar structure. The United States Secret Service will provide the necessary security enhancements and modifications.”

The White House Chief of Staff Susie Wiles said, “President Trump is a builder at heart and has an extraordinary eye for detail. The President and the Trump White House are fully committed to working with the appropriate organizations to preserving the special history of the White House while building a beautiful ballroom that can be enjoyed by future Administrations and generations of Americans to come.”