Democrats Probe 1789 Capital Over Rapid Growth and Government Links

The House Judiciary Committee’s ranking member, Congressman Jamie Raskin, has sent a letter to Donald Trump Jr., and to 1789 Capital founders Omeed Malik and Christopher Buskirk, requesting records on the firm’s investments and any communications with U.S. elected or federal officials. The request sets a deadline of September 9 for the materials. Raskin argues that the firm’s “astonishing growth and success” are likely the result of insider political influence and “thoroughgoing corruption.”

The Guardian

Donald Trump Jr. joined 1789 Capital as a partner days after his father’s November 2024 re-election. SEC filings show the firm’s assets under management rose from $150 million in 2024 to $1 billion in August 2025, then to $2.7 billion at year-end, and $3.5 billion by May 2026. CNN reporting indicates that 40 % of those assets came from overseas investors.

The Guardian

The firm has recently invested millions in Vulcan Elements, a rare-earth company that received a $620 million Pentagon loan in November 2025 and a $50 million Department of Commerce grant under the Chips and Science Act. 1789 Capital also holds a stake in Anduril Industries, a defense contractor that has secured billions in government contracts over the past year, according to recent reports. Two recent Defense Policy Board appointees—both linked to 1789 Capital—now advise the Pentagon on defense-technology matters.

The Guardian

In a July interview, President Joe Biden’s son said the president told him, “I tell my kids, ‘stay away,’” when discussing the family’s business exposure to policy. Trump Jr.

The Guardian

• “This was an amazing turn of events when the Trump Administration decided to pump over half a billion dollars into an unproven startup company,” — Congressman Jamie Raskin

The Guardian

• “I tell my kids, ‘stay away,’” — Donald Trump

The Guardian