Dominari
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AI Overview
Donald Trump Jr. joined venture capital firm 1789 Capital as a partner and serves on the advisory board of financial services firm Dominari Holdings. Through these roles, he focuses on strategic investments, particularly in artificial intelligence, technology, and private defense, often aligning with the "America First" agenda. [1, 2, 3]
Dominari Holdings and 1789 Capital
- Dominari Holdings: Donald Trump Jr. and Eric Trump joined the advisory board of Dominari Holdings in early 2025. He provides strategic planning and investment guidance, notably targeting the AI and data center industries. [1, 2]
- 1789 Capital: A Palm Beach-based venture capital firm focused on "patriotic capitalism" and investments in companies aligned with conservative audiences. Trump Jr. joined as a partner, where he focuses on capital raising, new investment origination, and global network strategy. [1, 2, 3, 4]
In the Media
Donald Trump Jr.'s transformation into Washington power broker on CBS News [1]
Donald Trump Jr.'s defenders view his corporate maneuvers and board seats as a testament to his "shrewd business decisions" and ability to cultivate lucrative connections among tech and finance leaders, far removed from the government's direct apparatus. [1]
"I joined a Venture Capital Firm that invests in private American companies — Nothing to do with the government.
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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 Andrew 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
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.
...
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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