A sum of $61.8 million was raised by the events organised around US President Joe Biden’s inauguration, which involved premier business institutions such as pharmaceutical giant Pfizer and wealthy personalities of the United States, according to media reports. 

According to a filing released on Tuesday by the US Federal Election Commission companies like AT&T, Uber, Qualcomm, Boeing and Lockheed Martin Corporation made base contributions worth $1 million, according to Reuters. 

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In addition to the finance-oriented setups, a labour union called International Brotherhood of Electrical Workers was also amongst the $1 million contributor slab.   

Numerous other individuals reportedly pitched in sums of $500,000.

Even though the filing from the Federal Election Commission did not reveal any significant details about the spending of the collected funds it is clear that expenses of the inauguration were borne by the federal government, according to Reuters. 

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However, the ceremony, which was highly restricted due to the looming COVID-19 pandemic, included performances from prominent artists. 

Biden’s predecessor, former President Donald Trump’s inauguration managed to raise close to $106 million in 2017.