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Lawmakers Probe $620M Pentagon Loan to Trump-Linked Firm

6/7/2026

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Summary

Story summary

Lawmakers asked Susie Wiles to explain her role in a $620 million Pentagon loan to a firm tied to President Donald Trump’s son.
The Pentagon approved a $620 million loan and a $50 million grant for rare-earth magnet startup Vulcan Elements.
Lawmakers wrote Wiles, demanding a June 16 response after ProPublica said Donald Trump Jr.’s 1789 Capital bought a stake in Vulcan Elements three months earlier and Peter Navarro filed the loan request.

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Story summary

Lawmakers asked Susie Wiles to explain her role in a $620 million Pentagon loan to a firm tied to President Donald Trump’s son.
The Pentagon approved a $620 million loan and a $50 million grant for rare-earth magnet startup Vulcan Elements.
Lawmakers wrote Wiles, demanding a June 16 response after ProPublica said Donald Trump Jr.’s 1789 Capital bought a stake in Vulcan Elements three months earlier and Peter Navarro filed the loan request.