Politics

Donald Trump’s presidential library foundation plans to raise almost a billion dollars in tax-exempt contributions over the next two years to build and operate his high-rise legacy project in downtown Miami, according to new tax filings. The foundation’s massive fundraising projections — during a period while Trump is still in office — are almost 50 times as much as Barack Obama’s presidential library raised in its first three years.

Most of the money the foundation has raised this year has been through high-profile settlements with media companies — including the ABC network, Paramount and Meta.

The unusual funding source funnels millions from media companies whose coverage he’s criticized into the foundation’s mission to “preserve, interpret, and promote understanding of the life, leadership, and public service of President Donald J. Trump.”

The media settlements also proved pivotal in helping Trump’s foundation get expedited approval of its tax-exempt status during the government shutdown, the new tax records show.