Biden’s inaugural committee seeks $1 million donations for ‘preferred viewing’ online from top donors

President-elect seeks big money for scaled-down virtual ceremonies

President-elect Joe Biden’s inauguration will be mostly virtual, though it’s gearing up to be a cinematic spectacle, with the most exclusive VIP tickets selling for as much as $1 million.

The president-elect’s inaugural committee released a set of top-tier ticket statuses for major donors, with individual tickets going for $25,000 to $500,000, and $50,000 to $1 million for organizations wishing to support the event.

As part of the fundraising effort, those who pitch in will receive premiere ticketing status to virtual events with the president-elect and first lady. Supporters who contribute the maximum amounts of $500,000 for individuals or $1 million for organizations will receive “chair” status for the inaugural events, according to the committee.

Those major donors will also earn themselves “preferred viewing for virtual Inauguration” ceremonies.

Donors who contribute $250,000 or more — considered “vice chairs” and “chairs” — would also receive two tickets to an in-person event scheduled at a later date, presumably when the Covid-19 pandemic has been battled back in the US.

The inaugural committee has planned for a largely virtual ceremony next month, along with a “reimagined” parade throughout the capitol. The swearing-in ceremony is an American tradition that takes place at the footsteps of the capitol — a tradition the committee said would continue this year, albeit with a significantly reduced audience size.

“People want to celebrate,” Mr Biden told Reuters earlier this month. “People want to be able to say we’ve passed the baton. We’re moving on. Democracy has functioned.”

Fundraising for presidential inaugurations is often a massive endeavor which attracts donations from wealthy Americans and major businesses on both sides of the political aisle.

“We have supported inauguration events over many administrations on a nonpartisan basis because we view it as part of our civic commitment for an important national event,” Bill Halldin, a bank spokesperson, told CNBC on Monday. “The private sector has traditionally done so, and we expect to provide support for ceremonies in January as appropriate, given the health crisis and other factors that may impact it.”

The inaugural committee has meanwhile called for Americans to celebrate the festivities from home, urging folks to avoid large gatherings as the pandemic continues to rage on across the country.

"The ceremony's footprint will be extremely limited, and the parade that follows will be reimagined,” the committee said in a statement. “The [committee] is urging the public to refrain from any travel and participate in the inaugural activities from home."