Social media settlements with Trump fall under new scrutiny after library fund dissolved

Congressional Democrats are investigating the disappearance of millions of dollars that major corporations pledged to President Donald Trump's planned presidential library through legal settlements, questioning what happened to the funds after the original receiving organization was dissolved.

Sens. Elizabeth Warren (D-MA) and Richard Blumenthal (D-CT), along with Rep. Melanie Stansbury (D-NM), sent letters Monday to executives at ABC, Meta, Paramount and X seeking information about the status of settlement commitments totaling at least $63 million, reported the Washington Post.

“Now it is unclear where this money has gone, exacerbating concerns about corruption that were apparent at the time of the settlement,” the lawmakers wrote.

The four companies reached legal agreements with Trump in the months following the 2024 presidential election, pledging millions to resolve claims that they had harmed him through social media restrictions or defamatory coverage. However, the designated recipient organization — the Donald J. Trump Presidential Library Fund, Inc. — was administratively dissolved by Florida officials last September after failing to submit a mandatory annual report.

Three months later, the lawyer who originally incorporated the fund filed articles of dissolution, according to reporting by OpenSecrets.

A new nonprofit entity, the Donald J. Trump Presidential Library Foundation, Inc., was subsequently created and reported receiving $50 million in contributions in December. However, that foundation has not publicly confirmed whether it received the corporate settlement funds.

The lawyer who incorporated the original fund referred inquiries to his former firm, Dhillon Law Group, which did not respond to questions about the dissolution. Press representatives for the four corporations and the foundation's trustee also declined to comment on the status of the settlement payments.

Presidential library nonprofits face minimal federal disclosure requirements, allowing donors — many with interests affected by White House policy — to contribute substantial sums without public accountability.

Trump has announced plans for a Miami-based library that will house a $400 million Boeing 747-8 aircraft gifted by Qatar, along with other acquisitions his allies are pursuing.

The investigation previews Democratic oversight tactics should they regain congressional control, with party leaders pledging intensified scrutiny of Trump's dealings with private companies.

Major donors to Trump's White House ballroom project — including Amazon, Google and Lockheed Martin — collectively hold billions in federal contracts before the administration.