Overview
- Donald Trump Jr. joined 1789 Capital after the November 2024 election and the firm says its assets grew from a few hundred million dollars to more than $3 billion over roughly two years.
- Several 1789-backed companies saw steep valuation gains after investments and policy shifts, including Polymarket's U.S. operating ban being reversed in December 2025 and a reported jump from about $300 million to $15 billion.
- A 1789-backed rare-earths company later received a $620 million Defense Department loan plus $50 million in CHIPS Act incentives, and that loan is the focus of an active congressional inquiry.
- A CNN analysis reported that 10 firms with 1789 ties were awarded more than $1.6 billion in federal contracts and grants during the administration's first 500 days, a level watchdogs say exceeds the prior period.
- 1789 partners and White House spokespeople deny any conflict of interest, while independent watchdogs warn the timing and scale of awards could erode public trust and have prompted increased congressional oversight.