Hims & Hers donates $1 million to Donald Trump’s inauguration fund

His health and that of him donated $1 million to President-elect Donald Trump’s inauguration fund, CNBC confirmed Tuesday.

The company, which offers a range of direct-to-consumer treatments for conditions such as weight loss, erectile dysfunction and hair loss, is the latest in a string of tech companies that have tried to attract favors of the new administration. Sam Altman, CEO of OpenAI, and Meta both announced $1 million in donations to the inaugural fund late last year, and Amazon And Apple CEO Tim Cook also reportedly contributed.

“At Hims & Hers, we stand with leaders and advocates who are committed to improving America’s broken healthcare system,” the company said in a statement to CNBC.

Axios first reported the Hims & Hers donation.

Hims & Hers has been a star in the digital health sector over the past year, thanks in large part to the success of its popular new weight loss offering.

The company began prescribing compounded semaglutide through its platform in May after launching a weight loss program in late 2023. Semaglutide is the active ingredient in blockbuster drugs from Novo Nordisk, Ozempic and Wegovy, which can cost around $1 $000 per month without insurance. Compounded semaglutide is a cheaper, tailored alternative to brand-name drugs and can be produced when brand-name treatments are in short supply.

The future of compounded GLP-1s in the United States is not entirely clear, especially since members of Trump’s circle have expressed conflicting opinions about these drugs more generally. Robert F. Kennedy Jr., Trump’s pick to lead the Department of Health and Human Services, criticized GLP-1. He told CNBC in an interview that “the first line of response” to obesity should be lifestyle change, while adding that “GLP medications have their place.”

Dr. Marty Makary, Trump’s pick to lead the Food and Drug Administration, was an executive at the telehealth company Sesame, which connects consumers with doctors who can prescribe GLP-1 compounds. However, Makary’s role at Sesame has been mostly ceremonial in recent years.

Elon Musk, the Tesla The CEO, who has been a close confidant of Trump since the election, has openly expressed his support for the drugs.

“Nothing would do more to improve the health, length and quality of life of Americans than making BPL inhibitors very inexpensive for the public,” Musk wrote in a post on his social media platform X in December.

At an event with reporters in New York late last year, attended by CNBC, Hims & Hers said it would work with the new administration and share the company’s view on the value of drugs.