Coca-Cola, which employed Biden's niece, donates $110G to Biden inauguration committee
Coca-Cola contributed more than $335,000 to President Trump's 2017 inauguration
Coca-Cola, which employed President-elect Joe Biden's niece Missy Owens until 2020, is donating $110,000 to the former vice president's inaugural committee despite plans to pause future political contributions.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KO | THE COCA-COLA CO. | 62.55 | -0.47 | -0.75% |
The company, which contributed more than $335,000 to President Trump's 2017 inauguration and $430,000 to former President Obama's 2013 inauguration, told FOX Business in a statement that it is suspending all future political donations from its PAC.
"We are proud to continue our support for the inauguration of our President, as we have done in a bi-partisan manner since the 1890s," Coca-Cola said. "The coronavirus pandemic makes this a very different year for inaugural activities, and we have adjusted our contribution accordingly."
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Coca-Cola said in an earlier statement that events that took place at the Capitol on Jan. 6 "will long be remembered and will factor into our future contribution decisions," as The New York Times first reported.
The decision from Coca-Cola and a number of other large corporations to suspend political donations came after some pro-Trump demonstrators rallying against certifying the results of the 2020 election stormed the Capitol. House Democrats have introduced an article of impeachment against Trump, claiming the president incited an "insurrection."
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The rampage left five people dead, and more than 80 rioters have been arrested for breaching the Capitol.
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The company added that its $110,000 donation to the 59th inaugural committee still stands. The contribution includes $50,000 in cash to "help support the committee's national day-of-service volunteer effort being planned for Martin Luther King Day" and $60,000 worth of beverages.
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Biden's niece served as Coca-Cola's director of federal and diplomatic government relations until last year.