WASHINGTON, Jan. 15 (Xinhua) -- The team of U.S. President-elect Donald Trump has raised a record 90 million U.S. dollars for the events related to his inauguration on Jan. 20, local media revealed.

Trump's inaugural committee set a 1-million-dollar limit for donations from corporations and no limit for individuals. The 90 million bankroll was far more than President Barack Obama's two inaugurations.

Obama's team had set stricter limits on donations for his inauguration, collecting 55 million in 2009 and 43 million in 2013.

Although Trump has raised more money for his inauguration than any U.S. president in history, his committee has refused to provide details on how the money would be spent.

"I can't imagine how they are going to spend that amount of money - and why they would even keep raising money," Steve Kerrigan, CEO for Obama's inaugural committee in 2013, was quoted by the AP as saying.

"We planned the two largest inauguration in the history of our country and we never spent anywhere near that," he added.

Trump is holding three inaugural balls. Obama had 10 balls at his first inaugural, according to the AP.