All articles tagged with #private funding
Investors are proposing a new funding round for OpenAI at a $1.2 trillion valuation, though the company is not actively engaging in talks. This move follows a March raise at $852 billion and precedes a delayed IPO, with Altman citing safety concerns as a reason to postpone public listing until at least 2027.
Victor Marx, the Republican nominee for Colorado governor, is linked to All Things Possible (ATP), a ministry that funds law enforcement agencies in Florida. Critics argue this bypasses public procurement and accountability, while Marx’s campaign denies any overlap between his political and charitable activities.
Mike Lindell says he has $825,000 ready to privately fund a statewide recount for Minnesota's governor race but won't pay until the scope dispute is resolved; his campaign argues the secretary of state's plan would only recount votes for two candidates, not all ballots, allegedly violating Minnesota law, and has asked for a payment deadline waiver while seeking a court ruling; the secretary of state contends the plan is lawful and approved.
IndyCar veteran Graham Rahal pushed back at Sen. Adam Schiff’s claim that Trump’s DC Freedom250 race was funded by taxpayers, noting the event was privately financed by Penske/IndyCar, drew thousands of visitors who boosted local business, and that security was handled with existing federal support; Schiff and the White House traded barbs over the funding and costs of the race.
President Trump announced a nearly $400 million White House ballroom funded entirely by private donors and corporations, while the Supreme Court temporarily allows construction to continue amid a legal battle over presidential authority and the project’s claimed national-security justification.
The Dutch Grand Prix at Circuit Zandvoort will depart the Formula 1 calendar after 2026. Promoters say the event, privately funded and with no direct government support, faces a precarious financial balance and rising costs, making a long-term sustainable business case unlikely. Despite strong fan interest, escalating ticket prices and revenue risks mean they would need near-sellout crowds every year, and rotations to other tracks were deemed not viable. The decision to end on a high note reflects weighing ongoing risks against the benefits of continuing.
The Tampa Bay Rays released renderings for a privately funded, $8 billion mixed-use district surrounding its proposed Hillsborough College/Dale Mabry stadium site, planned to include office space, retail, dining and hospitality across more than 100 acres. The project aims to create a walkable neighborhood around the ballpark, with additional renderings, including a revamped Hillsborough College portion, to be released soon. Rays CEO Ken Babby says the development is about more than baseball and has attracted Fortune 500 interest, though financing details have not been shared.
U.S. Senators Dave McCormick (R-PA) and John Fetterman (D-PA) announce a privately funded coalition of Pennsylvania groups to ensure the Commonwealth has a strong presence at the Great American State Fair on the National Mall for America’s 250th birthday. Partners include the PA Chamber of Business and Industry, PennAg, PA Farm Bureau, NFIB, PA Manufacturers’ Association, and MBA, with coordination from Secretary of Agriculture Brooke Rollins. The effort emphasizes Pennsylvania’s agriculture, manufacturing, and entrepreneurial sectors and is explicitly taxpayer-free and bipartisan.
Germany defended a €1.5m, privately funded rescue of Timmy the stranded humpback, arguing it offered a last chance despite expert warnings; Timmy died after being moved to deeper waters, with Danish authorities confirming the death near Anholt and noting there were no concrete plans to perform a necropsy.
Entrepreneurs funded a rescue to move Timmy the humpback from a shallow Baltic Bay toward the North Sea on a flooded barge, a roughly 400-km, multi-day journey that scientists warn could be risky despite veterinarians deeming him transportable.
Eric Schmidt and family back the Lazuli Space Telescope, a privately funded 3-meter optical/infrared observatory with a $500 million price tag that could launch in 3–5 years; operating from a lunar-resonant orbit to enable rapid target responses, it includes a coronagraph for exoplanet discovery and will release science-ready data quickly to the global community, potentially outpacing traditional government missions.
A federal judge ruled that the White House East Wing renovation can continue for now, finding the National Trust for Historic Preservation’s challenge insufficient to show the President lacked authority or that Congressional authorization was required or that federal agency action was involved. The judge noted the trust could amend its complaint to test statutory authority, and emphasized the executive residence is likely not an agency under the Administrative Procedures Act.
A federal judge declined to stop construction of the White House East Wing ballroom, ruling the current lawsuit focuses on the wrong questions about presidential authority and inviting the plaintiffs to amend to challenge the private-funding scheme; work will continue while the case is revised, highlighting debates over donor influence and congressional authorization.
President Trump is constructing a $250 million, privately funded ballroom at the White House, which will be nearly double the size of the current main space and accommodate up to 999 people, with construction starting despite some regulatory hurdles and demolition of part of the East Wing.
The Chicago Fire MLS team plans to build a $650 million stadium along the Chicago River, fully privately financed by owner Joe Mansuetto, set to open in 2028 within The 78 development, marking a shift away from public funding for sports venues.