Don Jr. Sparks Outrage After Startup Company He Backed Scores Massive Contract With Pentagon

Donald Trump Jr. is facing criticism after The Financial Times reported that Vulcan Elements, a startup he backed, scored a $620 million government contract with the Department of Defense.

The company said the deal falls under a broader $1.4 billion collaboration with the federal government and ReElement Technologies aimed at scaling up U.S. magnet production and strengthening the domestic supply chain.

Trump Jr. became a partner at 1789 Capital in 2024, and Bloomberg previously reported that the firm invested in Vulcan Elements roughly three months ago. That investment followed Vulcan’s August announcement of a $65 million Series A funding round led by Altimeter Capital.

According to the Financial Times, the agreement is the largest contract ever awarded by the Pentagon’s Office of Strategic Capital. The paper also reported that at least four companies backed by 1789 have secured federal contracts so far this year. In addition to Vulcan, the firm holds stakes in SpaceX and Anduril, both longtime government contractors.

Vulcan told the Financial Times that Trump Jr. played no role in securing the contract. A spokesperson for Trump Jr. echoed that claim, saying he “had no involvement in negotiations with the government on behalf of 1789’s portfolio companies.”

But considering the Trump family's history of conflicts of interest, people are outraged by the blatant corruption.

The Vulcan Elements disclosure lands only weeks after another Trump Jr.-connected company secured lucrative military business. Unusual Machines, a Florida-based drone manufacturer in which Trump Jr. holds a $4 million stake, recently won a U.S. Army contract to produce 3,500 drone motors.

The Financial Times also reported that the Army has signaled plans “to order an additional 20,000 components” from the company next year.

Earlier this year, Popular Information noted that Unusual Machines brought Trump Jr. on as an adviser shortly after his father’s victory in the 2024 presidential election, despite his having “no notable experience with drones or military contracting.”