Story perspectives

1789 Capital Manages $3B, $6B White House Deals Prompt Inquiry

7/23/2026

Summary

Story summary

Donald Trump Jr., Omeed Malik and 1789 Capital manage $3 billion, up from a few hundred million two years ago.
Critics say the firm is cashing in on White House proximity, reporting $6 billion in contracts and grants to 1789-linked firms in first 500 days, 79 percent more than Biden period.
Vulcan Elements’ valuation rose to $2 billion after 1789’s investment, a $620 million loan and $50 million CHIPS Act incentives, prompting a congressional inquiry.

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Story summary

Donald Trump Jr., Omeed Malik and 1789 Capital manage $3 billion, up from a few hundred million two years ago.
Critics say the firm is cashing in on White House proximity, reporting $6 billion in contracts and grants to 1789-linked firms in first 500 days, 79 percent more than Biden period.
Vulcan Elements’ valuation rose to $2 billion after 1789’s investment, a $620 million loan and $50 million CHIPS Act incentives, prompting a congressional inquiry.