Days after Donald Trump won the 2024 election, his son Don Jr. joined a venture capital firm called 1789 Capital as a named partner. In August 2025, 1789 Capital invested in Vulcan Elements, a two-year-old critical minerals company. Three months later, the Pentagon awarded Vulcan a $620 million loan—the largest its Office of Strategic Capital has ever issued. The Commerce Department added another $50 million in equity. Total federal support to Vulcan Elements: $670 million.
And it’s not just Vulcan. At least three more 1789 Capital portfolio companies received federal contracts or awards in 2025, totaling more than $735 million.
Don Jr.’s net worth has increased sixfold—to roughly $300 million—since his father was elected president in November 2024. And when companies Don Jr. backs receive federal contracts, American taxpayers are funding the growth of his wealth.
American tax dollars should go to the best companies, not the best-connected ones.
Home of the Brave exists to show Americans the real-world consequences of this administration’s policies, and to highlight what bravery looks like in defense of American democracy.
