1789 Capital
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MERRI OK
ERIC dON JR
So close that Don Jr visited Navarro in prison and was one of the few people Navarro's latest book was dedicated
RUMBLE?
THIEL
ANDURIL LUCKEY PALMER AUTO WEAPONS
JDV? blake masters
crypto
PREDICTION POLY MKT
GUN MFG
Rare earth
MERCER
TUCKER
juul vape fruity
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RR AN 9 26
Yesterday (September 14) — just two days after Dario Amodei, the chief executive officer of leading AI firm Anthropic, called for “slowing down” the pace of AI development so guardrails could be put in place that would “greatly reduce the risk that something goes seriously wrong” — Trump threw a tantrum:
“The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!
In the same post, Trump even hinted that the government might pursue criminal or regulatory penalties against AI companies, such as Amodei’s Anthropic.
“The Trump Administration has stopped AI ‘people’ from doing bad, or potentially bad, ‘things,’ like Dario (Anthropic!), who is now pretending to be a ‘perfect little angel’ — and we will continue to do so!”
Then Trump interrupted a speech being given by Jensen Huang, Nvidia’s chief executive, at a conference in Los Angeles to say — over a speaker — that worries about AI were “a hoax …. Robots are not going to be taking over the world. That’s not going to happen.”
Trump has called AI data centers “the oil of the next 50 years” and says they are delivering wealth and investment to communities in the U.S. In July he insisted that data centers are “Cash Cows,” creating taxes and jobs that “amount to LIQUID GOLD!”
Trump’s rejection of any regulation of AI or its data centers contrasts with the views of many voters. A March Gallup poll showed that nearly half of those surveyed “strongly oppose” the construction of local AI data centers, including almost 40 percent of Republicans.
Yet Trump remains adamant that nothing should be done. “We can put up guardrails, and we can do this and that, but I think you have a lot of negative forces that are bringing it up,” Trump told reporters Sunday while traveling in Ireland. “And they’re bringing up things that won’t happen.”
Why would Trump be so opposed to regulating AI — even in the face of growing public concern, even with midterm elections just around the corner?
It can’t be that he knows very much about AI.
And it can’t be that Trump loves AI because of what it can do. Yes, he’s used it to make fake photos and videos of himself, but that doesn’t explain his adamant refusal to regulate it.
It can’t be that he’s worried about China catching up to or surpassing the U.S. in AI. China has a small fraction of the data centers America has, and China isn’t poised to leapfrog our technological advantage. Besides, even China is considering imposing guardrails on its AI.
So what explains Trump’s absolute refusal to regulate AI? Could it possibly be that he and his family have personal financial stakes in it?
Indeed, Donald Jr. and Eric Trump have invested substantially in American Data Centers, a firm created to support AI cloud computing and AI infrastructure.
They made these investments soon after their father announced a $40 billion investment pledge in U.S.-based data centers from his business partner Hussain Sajwani, unveiled another $500 billion in planned investments in private-sector AI infrastructure, and signed an executive order rolling back Biden-era policies that took a more cautious approach to AI and directed “the development of an AI Action Plan to sustain and enhance America’s AI dominance.”
The Trump sons also hold advisory roles and ownership stakes tied to Dominari Holdings’s American Ventures fund, which targets AI infrastructure, data centers, and cryptocurrency. American Ventures has reportedly raised more than $1 billion across 21 investment vehicles backing companies tied to AI, crypto, drones, nuclear energy, and data centers.
Donald Jr.’s own investment firm, 1789 Capital, is backing emerging technology companies working in AI and defense. The firm has bought shares in some of the most coveted private companies before many went public, including SpaceX, Anduril, Cerebras, and Reflection AI, often by leveraging their political and business connections to secure a stake or help boost the companies’ sales.
The growth of Donald Jr.’s investment firm has been astonishing. Two years ago it managed a few hundred million dollars. It now oversees more than $3 billion. As of June 30, its main investment fund generated returns of roughly 200 percent, according to a person familiar with the firm’s performance. While still early in its investment cycle, those returns eclipse the average returns of about 21 percent from venture capital firms started in 2023, according to PitchBook, a provider of financial data.
Donald Jr. and Eric’s father seems to be turning his attention away from being president — “I’m getting a little bit tired of politics now,” he said a few days ago — toward things that excite him more, such as his ballroom and triumphant arch, as well as making even more money for his family off his presidency.
But as he focuses on making himself and his family wealthier, he’s leaving the rest of us more vulnerable to AI.
One of the first responsibilities of a new Congress, come January, will be to establish guardrails around AI — assuming that by then Trump can no longer control what Congress does, and that January isn’t too late.
Robert Reich is a professor of public policy at Berkeley and former secretary of labor. His writings can be found at https://robertreich.substack.com/.
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ggl 7 26
AI Overview
Donald Trump Jr. joined venture capital firm 1789 Capital as a partner, where he helps lead the firm's investments in conservative, "anti-ESG," and strategic defense companies. The firm is famously named after the year the U.S. Bill of Rights was written. [1, 2]
Most notably, 1789 Capital led a $60 million Series C investment in Dallas-based Firehawk Aerospace, an additive manufacturing and rocket propellant startup. 1789 Capital's investment helps fund Firehawk’s 340-acre production facility in Lawton, Oklahoma, and expands the company's 3D-printed, safer solid rocket motor technologies. [1, 2, 3]
For a quick breakdown of Donald Trump Jr.'s role with 1789 Capital and how his new investment fund is targeting political alliances:
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MPU Producer/Host - Alex Kennell
2:56
2 minutes, 56 seconds
And what happened to each of them after 1789? Capital invested. And I'll add it all up right here as we go.
3:02
3 minutes, 2 seconds
In July 2025, 1789, invested in a company called Hadrian Automation.
3:09
3 minutes, 9 seconds
Hadrian was founded in 2020 and had no significant government contracts.
3:13
3 minutes, 13 seconds
Eight months later, it won a $900 million Navy contract to build automated submarine factories and an $80 million Army contract.
3:22
3 minutes, 22 seconds
That's $980 million total, all to a company that had never won a major government contract before.
3:28
3 minutes, 28 seconds
Don Jr's fond invested in Here's another one. Firehawk aerospace, whose entire government contract history fits in a single line.
3:37
3 minutes, 37 seconds
It had just one contract in 2022, and then 1789 invests and suddenly there winning Air Force and Space Force deals worth $8.9 million, plus a land gift in Oklahoma.
3:49
3 minutes, 49 seconds
And sometimes the perk goes beyond the money.
3:52
3 minutes, 52 seconds
1789 invested in reflection AI in 2025, and by May 2026, it became one of only eight AI companies in the country allowed to deploy inside Pentagon classified networks.
4:05
4 minutes, 5 seconds
Here's a company called ANDURIL that makes the autonomous weapons systems that define modern warfare, like drones and AI powered surveillance towers, and after 1789, invested.
4:15
4 minutes, 15 seconds
In June of 2025, the company won a $367 million border surveillance contract and a $23.9 million Army deal.
4:24
4 minutes, 24 seconds
It also has a potential 20 billion. Yes. Billion with AB.
4:28
4 minutes, 28 seconds
Army consolidation deal in the works so big a number that it totally dwarfs everything else on this list, but we can't even count it.
4:36
4 minutes, 36 seconds
So I'll just do 367 million plus 23.9 million.
4:56
4 minutes, 56 seconds
of all of these, there's one example that stands apart because this is one where we have proof the white House directly intervened.
5:03
5 minutes, 3 seconds
VULCAN elements, a three year old startup with 30 employees that makes rare earth magnets.
5:08
5 minutes, 8 seconds
In August 2025, 1789, invested in Vulcan as a part of a $65 million funding round.
5:15
5 minutes, 15 seconds
Three months later, the Pentagon gave them a $620 million loan.
5:21
5 minutes, 21 seconds
Rare earth magnets are vital to military technology, and as the name suggests, they are rare. China has complete dominance over the industry.
5:30
5 minutes, 30 seconds
Both Democrats and Republicans have tried to change that. So Trump isn't the first to consider a loan of this sort.
5:39
5 minutes, 39 seconds
it went out without competitive bids without the technical disclosures that are used to verify whether a project is even viable before public money goes in.
5:50
5 minutes, 50 seconds
That was waived.
5:51
5 minutes, 51 seconds
the push for this loan came directly from Peter Navarro, Trump's senior trade adviser and a close personal friend of Don Jr.
5:57
5 minutes, 57 seconds
So close that Don Jr visited Navarro in prison and was one of the few people Navarro's latest book was dedicated He's a friend legitimately can't believe that this is happening to him,
6:08
6 minutes, 8 seconds
One Pentagon employee told ProPublica that the call came, quote, from the white House.
6:12
6 minutes, 12 seconds
We have to get this done, Staff worked late nights for weeks to push the loan through when deals like this normally take months.
6:20
6 minutes, 20 seconds
the time of 1789, investment Vulcan was valued at around 200 million. After the Pentagon loan, the valuation jumped to nearly $2 billion.
6:29
6 minutes, 29 seconds
technically, this one's alone.
6:30
6 minutes, 30 seconds
Not a contract, but it's still $620 million of our tax money going to a three year old startup with fewer employees than your local target, with no competitive process in a phone call from the white House to push it through.
...
5:03
5 minutes, 3 seconds
Falcon elements, a three year old startup with 30 employees that makes rare earth magnets.
5:08
5 minutes, 8 seconds
In August 2025, 1789, invested in Vulcan as a part of a $65 million funding round.
5:15
5 minutes, 15 seconds
Three months later, the Pentagon gave them a $620 million loan.
5:21
5 minutes, 21 seconds
Rare earth magnets are vital to military technology, and as the name suggests, they are rare. China has complete dominance over the industry.
5:30
5 minutes, 30 seconds
Both Democrats and Republicans have tried to change that. So Trump isn't the first to consider a loan of this sort.
5:39
5 minutes, 39 seconds
it went out without competitive bids without the technical disclosures that are used to verify whether a project is even viable before public money goes in.
5:50
5 minutes, 50 seconds
That was waived.
5:51
5 minutes, 51 seconds
the push for this loan came directly from Peter Navarro, Trump's senior trade adviser and a close personal friend of Don Jr.
5:57
5 minutes, 57 seconds
So close that Don Jr visited Navarro in prison and was one of the few people Navarro's latest book was dedicated He's a friend legitimately can't believe that this is happening to him,
6:08
6 minutes, 8 seconds
One Pentagon employee told ProPublica that the call came, quote, from the white House.
6:12
6 minutes, 12 seconds
We have to get this done, Staff worked late nights for weeks to push the loan through when deals like this normally take months.
6:20
6 minutes, 20 seconds
the time of 1789, investment Vulcan was valued at around 200 million. After the Pentagon loan, the valuation jumped to nearly $2 billion.
6:29
6 minutes, 29 seconds
technically, this one's alone.
6:30
6 minutes, 30 seconds
Not a contract, but it's still $620 million of our tax money going to a three year old startup with fewer employees than your local target, with no competitive process in a phone call from the white House to push it through.
6:42
6 minutes, 42 seconds
So I'm going to count it So it turns out the fastest way to win a government contract is to put the president's son on your board.
6:51
6 minutes, 51 seconds
I want to bring us back to Eric, because this is where things get really egregious.
6:57
6 minutes, 57 seconds
Power us is a drone company that both brothers invested in, in April 2026, it won an Air Force contract to sell interceptor drones.
7:04
7 minutes, 4 seconds
How much was never disclosed. Then there's another drone company, Unusual Machines. Don Jr is an advisor with a financial stake in the company.
7:13
7 minutes, 13 seconds
An October 2025 at one what its own CEO called, quote, the largest government contract in the company's history.
7:21
7 minutes, 21 seconds
The amount was also never disclosed.
7:23
7 minutes, 23 seconds
Unusual machines signed a $5 million supply deal with powers, so government money flows to power.
7:29
7 minutes, 29 seconds
US powers, pays unusual machines, Eric gets paid and Don Jr gets paid twice. It's a loop.
7:38
7 minutes, 38 seconds
This is the type of mechanism that helps Don Jr go from 50 million to 300 million, and helps Eric go from 40 million to 400 million.
7:47
7 minutes, 47 seconds
The contracts don't go to them directly, but they do go to the companies and they own pieces of these companies. So every government contract makes those pieces worth much more.
8:22
8 minutes, 22 seconds
the fund is still growing.
8:24
8 minutes, 24 seconds
Currently managing $3.5 billion in assets with a stated goal of $10 billion.
8:55
8 minutes, 55 seconds
So how is any of this legal?
8:59
8 minutes, 59 seconds
If a mid-level contract worker at a Navy base owns stock in a company bidding for one of her contracts, she would lose her job. She would likely face criminal charges, too.
9:08
9 minutes, 8 seconds
for Don Jr and Eric, there's nothing. No law covers the president's children.
9:14
9 minutes, 14 seconds
There's no requirement to recuse themselves from decisions that benefit their investments.
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GGL 6 26
AI Overview
Allegations of corruption and conflicts of interest are centering around 1789 Capital, a venture firm backed by Donald Trump Jr., and its connections to tech billionaire Peter Thiel and Vice President JD Vance.
YouTube·Volksgeist +5
These specific business and government intersections have sparked scrutiny:
- 1789 Capital and Vulcan Elements: In late 2025, 1789 Capital invested in Vulcan Elements. Three months later, the company secured a $620 million loan from the Pentagon's Office of Strategic Capital. This deal has prompted Democratic senators to request investigations into lucrative government contracts and loans awarded to firms tied to the President's son.
Facebook·McGill Media +1
- JD Vance's Investments and Anduril: Vice President JD Vance holds investments in various defense firms, notably Anduril Industries—a defense tech company co-founded by Palmer Luckey that Peter Thiel also invests in. Ethics watchdogs have raised concerns because Anduril was awarded over $220 million in government contracts during the current administration and plays a large role in national security initiatives like the Golden Dome missile defense system.
readsludge.com +1
- Peter Thiel's Influence: Peter Thiel is a central figure in these overlapping financial and political networks. He backed a pro-Vance super PAC, and Vance formerly worked at one of Thiel's investment firms, Mithril Capital, and managed Narya Capital, which was backed by Thiel.
Clermont County Democratic Party +1
Ethics watchdogs and lawmakers are scrutinizing these ties, alleging that political proximity allows these specific venture-backed firms to secure major government funding and lucrative defense contracts. For further information on the background of these conflicts of interest, you can read the Donald Trump Jr.'s 1789 Venture Fund analysis or explore reports on J.D. Vance's Financial Disclosure.
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an 12 25
MAGA billionaires are about to juice up on performance-enhancing drugs and compete in sporting events in a new competition known as the Enhanced Games, aka the “Steroid Olympics”, according to Bloomberg's Chris Bryant.
The billionaire-backers of the games, Bryant writes, are doing this "as part of their plan to take their events-slash-telemedicine company publicvia a special-purpose acquisition company."
"That makes me even warier," he adds.
The Enhanced Games, scheduled to take place in Las Vegas in May, is understandably a controversial, proposed international multi-sport event where athletes will be permitted to use performance-enhancing substances (PEDs) under medical supervision. The event is designed to challenge the traditional Olympic movement by advocating for athlete autonomy, fair pay, and scientific advancement in sports.
"Instead of toiling away for years for fleeting and poorly compensated Olympic glory, Enhanced Games athletes can take testosterone, anabolic steroids, human growth hormone and other performance-enhancing compounds to win a share of $25 million in potential prize money," Bryant says.
"Incentivizing competitors to pharmaceutically push their bodies to the limit for our enjoyment feels unethical," he adds.
The events organizers claim to be empowering athletes — literally, telling Bryant in a statement, "All enhancement protocols will be based on substances already approved by the US Food and Drug Administration."
Athletes will also need to pass a medical screening to ensure they enter the competition “healthy and safe," Bryant explains.
"More than 60 percent of Enhanced’s social-media audience is aged 18 to 34 and almost all male. Steroid abuse is rife among this group," he writes.
The investors in this startup include what Bryant calls "a blend of Silicon Valley’s libertarian, longevity and self-optimization obsessions and MAGA’s transactional and anti-establishment credentials."
" Until now it’s been bankrolled by a who’s who of cashed up libertarians: Executive Chairman Christian Angermayer, who’s also chairman of psychedelic-drug company Atai Beckley NV and founder of Enhanced’s biggest shareholder, Apeiron Investment Group; venture capitalist Peter Thiel; and the Winklevoss twins. Donald Trump Jnr is also involved via venture firm 1789 Capital, where he’s a partner," he writes.
So far, only about a dozen have signed up for the games, Bryant says, including British swimmer Ben Proud, who won silver at the Paris Olympics and track athlete Fred Kerley, a two-time Olympics medalist over 100 meters.
"The organizers aren’t only relying on creating a sporting spectacle. The bulk of future revenues is expected to come from selling over-the-counter supplements and prescription hormones to US consumers," Bryant says.
And while the steroids promise to pump up the athletes, the startup's bottom line may be deflated.
"Enhanced could end up with a deflating share price and just $40 million to fund its controversial business plan, setting back its ambitions to make us superhuman. Fans of sporting fair play won’t shed many tears," Bryant notes.
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an 12 25
President Donald Trump's eldest son is poised to benefit from a multi-million business deal secured with the Pentagon, The Daily Beast reports.
Vulcan Elements, a "little known startup" backed by Donald Trump Jr. "is slated for a roughly $620 million Defense Department loan under the deal," the *Financial Times* reports.
The recipient of investments from Trump Jr.'s 1798 Capital venture firm, Vulcan is a tiny rare-earths start-up, whose deal with the Defense Department will increase the domestic industrial supply of magnets, they explain.
The president's "persistent confusion about magnets has spurred mockery from his detractors, who have noted that his public comments on the matter are uncannily reminiscent of a 2010 song by Insane Clown Posse, “Miracles,” writes The Daily Beast, "which features rapper Shaggy 2 Dope delivering the immortal lines: 'F—— magnets, how do they work?'"
The loan is part of a wider $1.4 billion investment in the sector, appears to represent the largest ever granted by the Pentagon’s Office of Strategic Capital, and only the latest plushy government deal handed to a company backed by Trump Jr., The Daily Beast explains.
Vulcan is just the latest to profit off of Trump Jr.'s last name.
"Four firms within 1789 Capital’s portfolio, which also holds significant investments in other government contractors like SpaceX and Anduril, have reportedly landed contracts worth a combined $735 million since the MAGA leader assumed office for the second time in January," they note.
"Vulcan Elements’ deal with the Pentagon stands out both for the record-breaking size of the loan, and for the nature of services it will provide under the arrangement," they explain.
Kedric Payne, an ethics attorney, cries foul, telling the Financial Times, "Presidents are expected to avoid even the appearance that they are using their office to financially benefit themselves or their family."
“While we do not know for certain if, or how, the president may have influenced this loan, it falls under the cloud of conflicts of interest we have seen throughout his administration," Payne adds.
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5 minmeidas
:19
know, would have been supporting Ronda Santis. Yes. So, a lot of these figures were actually hoping Dantis would become the standard
16:25
bearer. And JD Vance in 22, he is he's running for the Senate. So, this is he's
16:31
doing his first he's just launching his first political campaign ever. And um a
16:37
friend a friend of his named Omin Malik uh a donor who used to be a Democrat a Wall Street guy basically turns against
16:43
the Democratic party during COVID moves down to Florida buys a place in Palm Beach and decides okay I'm going to host
16:50
a fundraiser for Vance in Palm Beach 2022. So he invites and Omid is good
16:55
friends with Don Jr. So he invites Don Jr. JD Vance is down there. Blake
17:00
Masters is down there. They did a fundraiser for him too. he was running at the same time and Buzzkerk was also backing his super PAC um and Buzzkerk.
17:09
And the way the story was described to me was there was this week in 2022 where they came down both for this Rockbridge
17:14
conference at Mara Lago and for the fundraiser that Omid was throwing and they all became like friends like it was
17:21
this bonding week for them. And what comes out of that week, it's like, okay, it's just a story, but what comes out of
...
0:38
types of politics. Because corporate America became involved in these politics, we then had to create a
20:43
counter movement, a counter business movement. So it's a a movement that unites politics and business and say
20:50
we're going to fund companies that are left out of this woke economy that they believe the economy is is becoming woke.
20:56
You know, another example they use a lot is ESG funds. So you have, you know,
21:02
funds which essentially they they say like we will not invest in um coal companies or companies that do oil and
21:09
gas. You know, we're going to create more like green energy funds. Like they're totally against that. And um and
21:15
then they also invested in some funds that are just some some companies that are just really political in their
21:20
nature like Rumble. You know, it's a right-wing news outlet. They were early investors in Rumble. They were early
21:26
investors in this grab a gun marketplace. They were invested in um
21:31
what people call like the steroids Olympics. It's an Olympic Games that they're trying to create. It almost
21:37
could be in some ways like a parody of a libertarian investment because it's an Olympic games where you can the athletes
21:43
can take per performance drugs. Yes. Um performance-enhancing drugs. So it's like a parallel Olympics. So there's
21:50
political principles behind these investments and some of them are also tied to people that they know politically as well.
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no talk 12 25
1789 Capital Management, LLC is an American venture capital firm based in Palm Beach, Florida.[1][2] The company focuses on products and companies associated with conservative values, and positions itself as an anti-ESG investment firm.[3][4]
6 26
1789 Capital Management, LLC is an American venture capital firm based in Palm Beach, Florida.[1][2] The company focuses on products and companies associated with conservative values, and positions itself as an anti-ESG investment firm.[3][4]
The company has been criticized over conflicts of interest related to Donald Trump Jr.'s association with the Donald Trump administration.[5][6][7][8] Within one year after Trump assumed office, companies backed by 1789 Capital received contracts valued at $735 million from the Trump administration.[8] Other companies invested in by 1789 Capital have received regulatory relief from the Trump administration.[8]
...As of October 2025, the main page for the 1789 Capital website says "Funding the Next Chapter of American Exceptionalism".[a][26][27]
In September 2025, the company reported its assets amounted to US$861,247,283.[20]
According to a May 2026 report by the Financial Times, 1789 Capital's assets under management grew from 200 million to 3.5 billion over the course of about a year — a 17‑fold increase. The firm, which operates under an "America First" brand, invests in artificial intelligence, defense technology, and real estate. Since the start of the second Trump administration, companies backed by the firm have received more than 735 million in federal contracts, including a 620 million loan from the Pentagon.[28][29]
History
1789 Capital was founded on October 3, 2022.[5] The founders were members of the Rockbridge Network, including investment banker Omeed Malik, heiress Rebekah Mercer, and entrepreneur Chris Buskirk. They created the firm as a result of the 2022 Rockbridge Summit.[6] Blake Masters was also involved in the initial conversation, according to Bloomberg.[7] The group chose the number 1789 to reflect the year the U.S. Bill of Rights was adopted.[8][9][10]
The New York Times reported that Donald Trump Jr. and Malik began planning investments together sometime around 2020, years before Trump Jr. joined the firm.[11]
Alexandra Ulmer and Joseph Tanfani from Reuters remark that Peter Thiel was an instrumental force behind the creation of 1789 Capital. Buskirk was a confidant of Thiel's, while Blake Masters, who formerly worked for Thiel Capital, was also a board member. The fund is intended to create a "parallel economy", a network that combines "businesses, media outlets and political organizations" associated with the America First movement.[12][13] The firm has invested in Anduril Industries, the defense manufacturing company Hadrian, and other Thiel-backed companies.[14][15]
The firm was originally registered in Delaware. As of September 2025, it is still registered there, but has its main office in Palm Beach, Florida, and conducts business in the state, with the Tallahassee branch of the Corporation Service Company as their registered agent. They also have an office in Scottsdale, Arizona.[5][16]
The firm made its first investment into Tucker Carlson and Neil Patel's new media company in 2023.[17][18] Shortly after Donald Trump won the 2024 United States presidential election, Trump's son Donald Trump Jr. announced that he would be joining as a partner at 1789 Capital instead of joining his father in a government position.[19][20] 1789 Capital and Type One Ventures co-hosted a fundraising event at Mar-a-Lago, which is owned by Donald Trump, on January 15, 2025, 5 days before Trump's inauguration.[21]
As of October 2025, the main page for the 1789 Capital website says "Funding the Next Chapter of American Exceptionalism".[a][22][23]
In September 2025, the company reported its assets amounted to US$861,247,283.[16]
Mission and investments
1789 Capital describes itself as promoting "patriotic capitalism", investing in companies that are "anti-woke" and "America First".[17][24][25][11][b] Malik has stated that the firm is only interested in companies that represent "entrepreneurship, innovation and growth", or "EIG", which he says means companies that have "no ESG or DEI components in them whatsoever."[10] The company's other focuses include "deglobalization" (referring to companies that are moving their production to the US and pulling away from production in other countries),[c] and the creation of a "parellel economy" of conservative businesses, in what Malik has characterized as an effort to "depoliticize" investment.[17][26][27][28][29] Malik has also said that the firm "represent[s] the silent majority."[7][d]
[
](https://en.wikipedia.org/wiki/File:Brig_Gen_Jared_D_Bordwell_visits_Multi-Functional_Reconnaissance_Company_Drone_Training_%289200287%29.jpg)1789 Capital has invested in Anduril Industries, which specializes in unmanned combat machinery, like this Anduril Ghost.
One goal of 1789 Capital is to create "a large, multi-strategy asset manager."[7] Its investments include:
- digital pharmacy BlinkRX;[30][31]
- spaceflight company Axiom Space;[32]
- the Enhanced Games;[33]
- defense companies Anduril Industries, Firehawk Aerospace, and Hadrian;[10][34][35][36]
- Juul Labs, which makes e-cigarettes;[29][37]
- online firearms retailer GrabAGun;[38][39]
- rare earth magnet company Vulcan Elements;[40]
- Happy Dad LLC, which produces hard seltzer;[7][29]
- artificial intelligence-related companies like Cerberas, Groq, Perplexity AI, and Reflection AI;[29][37][41][42][43][44][45]
- financial technology company Plaid Inc.;[39]
- cryptocurrency prediction market platform Polymarket;[22][46][47]
- online newsletter site Substack;[10][48] and
- Last Country Inc., which runs the website for the Tucker Carlson Network.[10][49][50][18]
The firm also invests in "almost all of Elon Musk's companies",[10] including Neuralink, X (formerly Twitter), xAI, and SpaceX,[11][29][10][39][51][52][53] and signalled their intent to continue backing Musk's companies during a public feud between Musk and Donald Trump.[54]
1789 Capital invested in GrabAGun, an online firearms retailer which Malik has called "the Amazon of guns",[38] partly because the company aligns with 1789 Capital's values.[39] In an interview with IPO Edge, Malik said,[38]
... we select companies that really are cornerstones of that vision of the economy that we want to take public. The Second Amendment is why we were so interested in the GrabAGun transaction as it overtly tries to enhance and insulate the Second Amendment from what we viewed to be a tax on it. Whether as a result of certain elements of the federal government, regulations and general reluctancy to invest in the space, capital markets have largely shut out companies like GrabAGun.
ION Analytics reported that according to partner Paul Abrahimzadeh, 1789 Capital is investing in "late-stage technology companies", including energy companies.[55]
The firm does not invest in companies such as OpenAI that they deem not supportive enough of the Trump administration. On the topic, Donald Trump Jr. said, “I’ve turned down major deals where the ethoses don’t align [...] There are people who have become MAGA more recently — and I don’t know they actually believe.”[7]
On September 3, 2025, Bloomberg reported that 1789 Capital had "lined up about $1 billion in initial investor interest" for a new fund that would be used to purchase properties in South Florida, and especially in Palm Beach and Boca Raton, in partnership with a real estate company called the Frisbie Group.[20][56]
In October 2025, Colombier Acquisition Corp. III, Malik's special purpose acquisition company (SPAC) that has been involved in 1789 Capital's previous investments, filed for an initial public offering (IPO) for the New York Stock Exchange, with an initial share price of $10 and 26,000 units intended to raise US$260 million.[23] Roth Capital Partners was the underwriter for the move, and Chamath Palihapitiya was reportedly planned to be a director for the company.[23]
Members and backers
[
](https://en.wikipedia.org/wiki/File:Donald_Trump,_Jr._%2854233164698%29.jpg)Donald Trump Jr. in December 2024, a few weeks after joining 1789 Capital[
](https://en.wikipedia.org/wiki/File:Chris_Buskirk_%2850760853762%29.jpg)Chris Buskirk in 2020
The firm was founded by Chris Buskirk, Omeed Malik, and Rebekah Mercer. Malik serves as president. Buskirk is CIO. Jordan Cohen is listed as partner and COO. Other partners include Paul Abrahimzadeh,[57] Andy Nasser, Donald Trump Jr., and Joe Voboril.[58]
Venture capitalist Blake Masters was previously listed as a member of the Board of Advisors,[59][60] but has since been removed from the website.[58]
Early backers included Marc Andreessen, Charlie Kirk, and Clay Travis.[7]
1789 Partners
1789 Capital has a South Korea-based think tank called 1789 Partners. CEO of the group is Park Byung-eun, who is also involved with Rockbridge Korea, the Seoul-based branch of the Rockbridge Network.[61] Chung Yong-jin of Shinsegae and Rockbridge Korea is also leading the project.[62][63]
Reception
Multiple media outlets, financial figures, government watchdogs, ethics experts, and various Democrats have criticized 1789 Capital for its ties to the Trump administration.[20][29][64][65]
Business Insider compared Donald Trump Jr. to Hunter Biden, saying that Trump Jr.'s business dealings–including his involvement in 1789 Capital–resembles the unethical financial schemes that Hunter Biden was accused of pursuing during his father's presidency.[19][e] Trump Jr. rebuked the comparison in a post on X, calling Hunter Biden a "felon crackhead" and saying that unlike Hunter Biden, he was a businessman before his father's presidency, and his investments had "nothing to do with government".[20][66][67] Trump Jr. has repeated this claim when questioned about conflicts of interest,[29] and a spokesman for 1789 Capital told The New York Times that the firm "maximizes transparency and compliance, even though no one at the fund has ever worked in government."[11] Journalists with Reuters and The Daily Beast have disputed Trump Jr.'s claim that he is not profiting off of his father's presidency; one reporter argued that under Trump Jr. the firm has expanded significantly, and has diverted from its goal of "anti-wokeness" to invest in defense companies which have then received government contracts under the Trump administration.[68] Bloomberg, Reuters, and The New York Times have reported that 1789 Capital has invested in multiple companies which received government contracts around the time that the firm invested in them.[11][40]
Business Insider also reported,[1]
One veteran Wall Street investor, who has personally reviewed 1789's deals, says they enable the president's son to profit from the administration's actions, even if no contractors are given preferential treatment. "It's a way for Mar-A-Lago to get paid," says the investor, who spoke on the condition of anonymity for fear of retribution from the Trump administration.
The Revolving Door Project[f] (RDP) has also raised concerns about 1789 Capital. They have highlighted some of the company's operations in their weekly "Corruption Calendar" newsletter alongside other controversies related to the Trump Administration, such as Donald Trump's cryptocurrency, Trump's acceptance of a jet gifted to him by the Qatari Royal Family during his May 2025 visit to the Middle East,[69] Omeed Malik's appointment to the board of Fannie Mae,[70] the Trump administration's choices of which federal employees to hire or terminate, and what the RDP calls "conflicts of interest" around DOGE and Elon Musk's involvement with the government.[69][g]
On the subject of Trump Jr.'s investments, Donald Sherman, executive vice president and chief counsel at Citizens for Responsibility and Ethics in Washington (CREW), has said,[71]
I want to make clear that this is a problem, and it’s a problem that impacts the whole of government, but there is no modern or historical comparison for what Don Jr. and the President are doing. [...] The rules themselves aren’t designed, unfortunately, to force the adult children of government officials to report their financial entanglements. But Don Jr. and President Trump continue to make the case for why maybe they should.
There was some controversy around the firm's investment in Polymarket (and Trump Jr. joining the board of the company) because the investment was announced within months of the Commodity Futures Trading Commission (CFTC) dropping their investigation into the firm and subsequently un-banning them from doing business in the United States.[46][72] Better Markets president Dennis Kelleher said that Polymarket seemed to be using "a backdoor approach to become a regulated exchange."[72] Kelleher also wrote a letter to the CFTC questioning the circumstances of Polymarket's authorization:[72]
"The timeline here tells an interesting story. Polymarket had been under investigation by both the CFTC and the Department of Justice for potentially violating its 2022 settlement with the CFTC, which prohibited it from offering binary options to U.S. users. That investigation was reportedly serious enough for the FBI to raid the home of Polymarket's CEO and seize his phone and electronics. Yet in mid-July, after a change in administration, both agencies closed their investigations."
According to the drone and technology news site DroneXL, Colby Goodman of Transparency International has said the following about 1789 Capital:[73]
There’s always these risks that [Trump Jr.] is going to have inside information or be able to access inside information from the U.S. government for a whole range of things. Just from the procurement side, he could know about upcoming bids, and the content of what that is, and help them win contracts with the U.S. government.
The Daily Kos, a left-wing media blog, commented sarcastically:[74]
It’s almost poetic, really. We used to call this kind of setup “crony capitalism.” But with 1789 Capital, we’re rebranding it as good ol’ American ingenuity. After all, this isn’t corruption; this is just how family values work! And if public policy ends up favoring [Donald Trump Jr.]'s investments, well, that’s just the free market in action, right?
Around August or September 2025, Rebecca Ballhaus of The Wall Street Journal (WSJ) filed a broad FOIA request to the SEC, asking for "any records involving 1789 Capital, including any emails and text messages to or from 1789 Capital domains and any records that mention 1789 Capital."[24] John A. Jenkins of Law Street reported that this was remarkable because Ballhaus' work "focuses on politics and government and includes investigations into conflicts of interest across the federal government; harassment and abuse at federal agencies; and the role of high-dollar donors in politics."[24] Jenkins also said that "FOIA requests to the federal government can be an important early warning of bad publicity, litigation to come, or uncertainties to be hedged and gamed out", and that the request represents "a possible escalation of the tension between" Donald Trump and Rupert Murdoch, who owns the WSJ and was sued by Trump earlier in the year for an article about the nature of the relationship between Donald Trump and Jeffrey Epstein.[24][75]
In October 2025, The Wall Street Journal reported that 1789 Capital had "tried to sell sponsorships for a conference pitched to companies as the 'Inaugural U.S. Treasury A.I. Summit,' during which it said Treasury Secretary Scott Bessent would unveil the Treasury Department’s artificial-intelligence strategy."[64] The U.S. Department of the Treasury said that they had not approved these promotional materials, and WSJ said that after their reporters inquired about the event, "the conference organizers released some details about it—including a different name for it, 'AI Summit on American Prosperity,' that no longer included the word 'Treasury.'"[64] Ethics expert Norm Eisen voiced concern that “the official imprimatur of the U.S. Treasury [was] being used for an event that appear[ed] to result in the personal gain of outside actors”.[64] Ja'han Jones of MSNBC said that "the Trump administration" appeared to be "trying to downplay any appearance of impropriety", and that this incident "continue[d] the string of conflict of interest concerns emerging from 1789 Capital and its ties to the Trump family."[76] The Wall Street Journal also reported that the organizer for the event, a company called the Prometheus Initiative, was co-founded by Christopher Buskirk, who also co-founded 1789 Capital.[64]
Some have criticized 1789 Capital's investment into BlinkRX, since the firm–and Trump Jr.–are likely to benefit from Donald Trump's May 2025 executive order directing pharmaceutical manufacturers to offer an online option for people to purchase prescription drugs without using insurance. The criticism increased when, in September 2025, it was revealed that BlinkRX would be facilitating TrumpRx, a government-run website where consumers will be able to purchase prescription drugs directly from manufacturers like Pfizer, and that 1789 Capital and BlinkRX also hosted a "Future of Pharmaceuticals" conference featuring members of the Trump administration with a dinner at the Executive Branch club, which is also owned by some of the members of 1789 Capital.[77][78][79][80][81][82][83]
Other critics include Richard Painter and Ann Skeet.[29]
See also
- Altimeter Capital
- Big Tech
- BlackRock
- Boycott, Divestment and Sanctions
- Cambridge Analytica
- Counter-economics
- Diversity, equity, and inclusion policies of the second Trump administration
- Dollar voting
- Donald Trump 2024 presidential campaign
- Heritage Foundation
- JD Vance
- List of Florida companies
- List of venture capital firms
- Parallel economy
- PublicSquare
- Rumble (company)
- Ryan Kavanaugh
- Socially responsible investing
- Trae Stephens
- Vivek Ramaswamy
Footnotes
- See also: American exceptionalism
- See also: Woke
- See also: Globalization
- See also: Silent majority
- See also: Hunter Biden laptop controversy, Biden–Ukraine conspiracy theory#Hunter Biden, and United States House Oversight Committee investigation into the Biden family
- The Revolving Door Project's name refers to the concept of the revolving door in politics.
- See also: Response to the Department of Government Efficiency and Political activities of Elon Musk
References
ggl 7 26
AI Overview
Donald Trump Jr. joined venture capital firm 1789 Capital as a partner, where he helps lead the firm's investments in conservative, "anti-ESG," and strategic defense companies. The firm is famously named after the year the U.S. Bill of Rights was written. [1, 2]
Most notably, 1789 Capital led a $60 million Series C investment in Dallas-based Firehawk Aerospace, an additive manufacturing and rocket propellant startup. 1789 Capital's investment helps fund Firehawk’s 340-acre production facility in Lawton, Oklahoma, and expands the company's 3D-printed, safer solid rocket motor technologies. [1, 2, 3]
For a quick breakdown of Donald Trump Jr.'s role with 1789 Capital and how his new investment fund is targeting political alliances:
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Reuters
Polymarket secures investment from Trump Jr-backed 1789 Capital
Aug 26, 2025Polymarket said on Tuesday it secured an investment from Donald Trump Jr-backed venture capital firm 1789 Capital, as prediction markets gain traction in the United States.
Polymarket
Polymarket | The World's Largest Prediction Market
Polymarket is the world's largest prediction market, allowing you to stay informed and profit from your knowledge by betting on future events across various topics.
PR Newswire
Polymarket Receives Strategic Investment from 1789 Capital and Welcomes ...
Aug 26, 2025Founded in 2022 by Omeed Malik and Chris Buskirk, 1789 Capital is an investment firm that focuses on providing financing to companies in the budding Entrepreneurship, Innovation & Growth ("EIG ...
Yogonet
Polymarket gains funding from Trump Jr.-backed 1789 Capital
Aug 27, 2025Prediction markets platform Polymarket said it has received an investment from venture capital firm 1789 Capital, which counts Donald Trump Jr. among its partners.
Wikipedia
https://en.wikipedia.org › wiki › 1789_Capital
1789 Capital - Wikipedia
1789 Capital was founded on October 3, 2022. [5] The founders were members of the Rockbridge Network, including investment banker Omeed Malik, heiress Rebekah Mercer, and entrepreneur Chris Buskirk. They created the firm as a result of the 2022 Rockbridge Summit. [6] Blake Masters was also involved in the initial conversation, according to Bloomberg. [7] The group chose the number 1789 to ...
The Washington Post
https://www.washingtonpost.com › technology › 2025 › 11 › 04 › chris-buskirk-maga-vance-post-trump
J.D. Vance ally Chris Buskirk is planning MAGA's post-Trump future ...
Nov 4, 2025Chris Buskirk put tech elites in power in Trump's Washington. His efforts are grounded in a controversial theory: An "aristocracy" is needed to move the country forward.
The Block
Polymarket to close a $200 million fundraise at a $1 billion valuation ...
Jun 24, 2025The decentralized prediction market developer Polymarket is "nearing a deal" for a $200 million fundraise, netting the firm a $1 billion valuation, The Information reports, citing people familiar with the matter. The fresh financing could suggest renewed investor interest in decentralized prediction
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duck 12 25
1789capital.vc
https://1789capital.vc › don-trump-jr
Don Trump Jr - 1789 Capital
Donald Trump, Jr. is a partner at 1789 focused on new investment origination, capital raising and strategy. His breadth of relationships across the corporate and investor landscape affords significant reach to 1789's global network.
Reuters
Trump-linked venture fund 1789 Capital tops $1 billion in assets
Sep 8, 2025In the months following Donald Trump's return to the White House, a little-known venture fund with ties to the Trump family quietly crossed a milestone: $1 billion in assets. The firm, 1789 ...
Wikipedia
https://en.wikipedia.org › wiki › 1789_Capital
1789 Capital - Wikipedia
The New York Times reported that Donald Trump Jr. and Malik began planning investments together sometime around 2020, years before Trump Jr. joined the firm. [11] Alexandra Ulmer and Joseph Tanfani from Reuters remark that Peter Thiel was an instrumental force behind the creation of 1789 Capital.
Business Insider
How Donald Trump Jr. Is Making Money Off the Presidency: 1789 Capital ...
May 12, 2025Since Donald Trump Jr. joined 1789 Capital (founded by Omeed Malik, left), he has been cut in on deals that will enable him to profit from his father's administration. Ryan Emberley/amfAR/ Getty ...
Alternet.org
https://www.alternet.org › don-jr-1789-musk
'A way for Mar-A-Lago to get paid': Don Jr.'s role in 'anti-woke' firm ...
May 12, 2025In November 2024, Donald Trump Jr. became a partner in a Palm Beach, Florida-based investment firm startup named 1789 Capital. And its stated goal was to invest in "anti-woke" businesses.The ...
New York Times
https://www.nytimes.com › 2024 › 11 › 11 › us › donald-trump-jr-firm.html
Donald Trump Jr. Is Joining a Venture Capital Firm - The New York Times
Nov 11, 2024The firm, 1789 Capital, invests in products and companies aimed at conservative audiences. By Theodore Schleifer Reporting from Las Vegas The eldest son of President-elect Donald J. Trump will not ...
MSN
Don Jr.'s $1 billion venture firm raises new concerns about Trump's ...
A Reuters report reveals how a venture fund which Donald Trump Jr. joined as a partner raises new conflict of interest questions.
thefinancialanalyst.net
Donald Trump Jr. Joins 1789 Capital, Targeting Conservative Investments
6 days agoIn a surprising pivot, Donald Trump Jr. has opted to join 1789 Capital, a venture capital firm focused on investing in conservative-leaning companies.
Fortune
https://fortune.com › 2024 › 11 › 12 › donald-trump-jr-venture-capital-1789-capital
Donald Trump Jr. is joining a venture capital firm that ... - Fortune
Nov 12, 2024The son of the incoming president is reportedly joining 1789 Capital, a boutique investment company that focuses almost exclusively on products and services for conservative audiences.
Yahoo
https://www.yahoo.com › news › donald-trump-jr-opts-white-031108044.html
Donald Trump Jr. Opts Out of White House to Join 1789 Capital
Nov 12, 2024(Bloomberg) -- Donald Trump Jr. is joining 1789 Capital, a venture capital firm that invests in conservative-leaning companies, according to people familiar with his plans.Most Read from ...
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Reuters
Trump son Don Jr joining venture capital firm 1789 Capital, sources say
Nov 12, 2024President-elect Donald Trump's eldest son, Donald Trump Jr., is joining venture capital firm 1789 Capital, which focuses on investing in conservative companies, according to three sources familiar ...
Financial Times
https://www.ft.com › content › 3314a209-ad61-459e-bee8-08d94a70e833
Donald Trump Jr sits out new administration to join VC firm
Nov 12, 2024Your guide to what Trump's second term means for Washington, business and the world Donald Trump Jr has chosen to join a venture capital firm that invests in conservative-leaning companies and ...
1789capital.vc
https://1789capital.vc › 1789team
Team - 1789 Capital
Don Trump JrPartner
The Straits Times
Donald Trump Jr has big plans for monetising Maga
Mar 11, 2025Turns out, 1789 has a big attraction: Mr Donald Trump Jr - son of the US President, crown prince of Maga and now frontman for what fans hail as a "parallel" US economy aimed at the Trump ...
Forbes
Donald Trump Jr. Will Reportedly Join An Anti-ESG Venture Capital Firm ...
Nov 12, 2024President-elect Donald Trump's oldest son is reportedly set to join 1789 Capital—a venture capital firm that invests in conservative-leaning companies.
Business Insider
https://www.businessinsider.com › donald-trump-jr-joining-vc-firm-explained-2024-11?op=1
This is the anti-ESG venture capital firm that Donald Trump Jr. is ...
Nov 16, 2024The venture capital firm that Donald Trump Jr. is reportedly joining eschews investments that push social and environmental issues and instead focuses on what it calls "EIG," or entrepreneurship ...
Rolling Stone
Donald Trump Jr.'s 1789 Firm Invests in Elon Musk's SpaceX: Report
Mar 10, 2025Donald Trump Jr.'s investment firm, 1789 Capital, invested $50 million in Elon Musk's companies, including SpaceX, Bloomberg reports.
Bloomberg
Donald Trump Jr. and 1789 Capital Have Big Plans for MAGA Investing ...
Mar 10, 2025At 1789 Capital, the president's eldest son is chasing profit in the 'parallel' economy of Trump's America.
Bisnow
South Florida Developer, Company Backed By Trump Jr. Partner For $1B ...
Sep 3, 20251789 Capital, led by Omeed Malik with Donald Trump Jr. as a partner, is planning to partner with local firm Frisbie Group on new developments and acquisitions.
Yahoo Finance
https://finance.yahoo.com › news › donald-trump-jr-joining-venture-153133306.html
Donald Trump Jr. is joining a venture capital firm that focuses on ...
Nov 12, 2024Donald Trump Jr. is getting into the investment game. The son of the incoming president is reportedly joining 1789 Capital, a boutique investment company that focuses almost exclusively on ...
1789capital.vc
1789 Capital - SeventeenEightyNine
TeamFunding the Next Chapter of American Exceptionalism
Newsmax
Donald Trump Jr. Joining Vance's Venture Capital Firm, 1789 Capital
Nov 12, 2024President-elect Donald Trump's eldest son, Donald J. Trump Jr., is joining venture capital firm 1789 Capital, which focuses on investing in conservative companies, according to three sources familiar with his plans. 1789 Capital is a roughly $150 million venture capital firm based in Palm Beach, Florida, and owned by entrepreneur Chris Buskirk, financier and Trump donor Omeed Malik and hedge ...
1789capital.vc
https://1789capital.vc › christopher-buskirk
Christopher Buskirk — 1789 Capital
Founder & CIO Chris has founded, built, and successfully sold multiple finance businesses including in insurance, reinsurance, specialty lending, and tax-credit financing. He is the founder and principal of Buskirk Capital, a family investment firm which led to the formation of 1789 Capital where he is co-founder and Chief Investment Officer.
The Asia Live
Donald Trump Jr. Joins 1789 Capital, A Conservative-Aligned Venture ...
Nov 12, 2024Donald Trump Jr. will join the venture capital firm 1789 Capital, marking a significant step in his career beyond the Trump Organization. Trump Jr.'s entry into venture capitalism is seen as both a calculated business move and a political signal, aligning with the firm's focus on conservative and anti-"woke" investments.
Daily Beast
Donald Trump Jr. Joining 'Anti-Woke' Venture Capital Firm Financing ...
Nov 12, 2024Donald Trump Jr. will join 1789 Capital, an "anti-woke" venture capital firm that invests in right-wing companies and counts a stake in Tucker Carlson's media venture as its flagship asset ...
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