In 2020, the total amount spent on lobbying by Big Tech in the US was around $124 million, the total spending on lobbying by the giant companies have become doubled because companies are now more interested in employing lobbyists, who in turn lobby government officials and other big posts. After all, these companies want to gain the degree of influence on the legislative process in the hope of making those policies which are favorable to their business. Even this spending on lobbying occurs at all levels from local government to the presidential elections. For the last two years, Facebook and Amazon are the biggest corporate lobbying spenders in America.
These two companies have spent more than double the amount that the oil giant ExxonMobil and Philip Morris tobacco company spent in the year 2020, according to the research. Amazon has increased its spending by 30% from 2018 to 2020 on lobbying efforts, while Facebook has increased about 56% in 2020 to influence lobbying, the Public Citizen said in a report. Facebook spent around 19.6 million in US dollars while Amazon has spent around 18.7 million dollars from 2018 to 2020. The oil giant company ExxonMobil has spent almost half then these two companies have spent.
ExxonMobil has spent about 8.69 million dollars on lobbying efforts in the same year, while the tobacco company named Philip Morris has spent 6.95 million dollars in 2020, these data have been issued by the Center for Responsive Politics. The Public Citizen report further published that there are four giant companies that are spending the most amount on lobbying named Google, Amazon, Facebook, and Apple. These companies are even running the political ads on their platform and the report said that these companies nominated their officials in main positions in the White House and this is the main reason behind all this amount spent because these companies want to make such policies which are according to the norms of their business and so that the upcoming president cannot put restrictions on such companies.
Facebook also told Wall Street Journal that it wants the modification of internet regulations and therefore it is supporting the new rules "that address today’s realities online", while the spokesperson of Amazon said that they are trying to focus on supporting issues that really matter for customers and employees. However, an investigation has been conducted by the lawmakers on these tech giants regarding their spending on lobbying and these companies want the monopoly in the market because these companies want to make such policies that are beneficial to them but that could have an adverse impact on small companies. Social media platforms have been badly criticized for spreading false information regarding coronavirus and the US elections.
Facebook and Amazon have increased their spending by 18% and 11% in 2020 from 2019.
Read next: The Tech Companies Ages and How They Impacted the World
These two companies have spent more than double the amount that the oil giant ExxonMobil and Philip Morris tobacco company spent in the year 2020, according to the research. Amazon has increased its spending by 30% from 2018 to 2020 on lobbying efforts, while Facebook has increased about 56% in 2020 to influence lobbying, the Public Citizen said in a report. Facebook spent around 19.6 million in US dollars while Amazon has spent around 18.7 million dollars from 2018 to 2020. The oil giant company ExxonMobil has spent almost half then these two companies have spent.
ExxonMobil has spent about 8.69 million dollars on lobbying efforts in the same year, while the tobacco company named Philip Morris has spent 6.95 million dollars in 2020, these data have been issued by the Center for Responsive Politics. The Public Citizen report further published that there are four giant companies that are spending the most amount on lobbying named Google, Amazon, Facebook, and Apple. These companies are even running the political ads on their platform and the report said that these companies nominated their officials in main positions in the White House and this is the main reason behind all this amount spent because these companies want to make such policies which are according to the norms of their business and so that the upcoming president cannot put restrictions on such companies.
Facebook also told Wall Street Journal that it wants the modification of internet regulations and therefore it is supporting the new rules "that address today’s realities online", while the spokesperson of Amazon said that they are trying to focus on supporting issues that really matter for customers and employees. However, an investigation has been conducted by the lawmakers on these tech giants regarding their spending on lobbying and these companies want the monopoly in the market because these companies want to make such policies that are beneficial to them but that could have an adverse impact on small companies. Social media platforms have been badly criticized for spreading false information regarding coronavirus and the US elections.
Facebook and Amazon have increased their spending by 18% and 11% in 2020 from 2019.
H/T: BB.
Read next: The Tech Companies Ages and How They Impacted the World
