A little-known investment company has just surpassed $1 billion in assets.
1789 Capital, an investment company listing eight team members on its website—including the President’s eldest son, Don Trump Jr.—is evolving into a significant financial player on Wall Street.
It’s a major turnaround for the Palm Beach, Florida-based company that is concerning some ethics experts.
Before November 2024, 1789 Capital was a niche firm that invested in companies with conservative-aligned values.
It had small investments in Substack, Tucker Carlson’s media enterprise, pharmaceutical outfits, and AI startups.
However, the company experienced a turnaround in fortunes with President Donald Trump’s re-election. It appointed his oldest son as a partner shortly after the nomination.
Since then, Reuters reports the firm has consistently spent between $5 million and $5 0million on a series of splashy investments.
Representatives from the firm, among them Don Jr., took part in ringing the market bell during GrabAGun’s debut as a publicly listed entity. They have also invested in the prediction platform Polymarket.
Omeed Malik, one of 1789 Capital’s co-founders, has turned the firm from a niche brand into a financial powerhouse
Now, the company is backing AI startups and defense contractors that could do business with the US government.
Omeed Malik, one of the founders and a notable Trump donor in the 2024 election, perceives the firm as a response to the progressive ideologies that conservatives argue have permeated corporate environments since the mid-2010s.
For instance, companies previously channeled funds into so-called ESG firms—those prioritizing environmental, social, and governance principles—culminating in a $30.3 trillion investment peak in 2022.
Malik coined a competitive term, EIG — meaning entrepreneurship, innovation, and growth — in response.
‘We felt that the private sector was actually becoming quite politicized,’ the co-founder said in an interview with Bloomberg.
‘People and customers want to shop their values in some respects. Politics has entered into the boardroom, and that’s undeniable.
‘We’d like the other half of the country to have a seat at that table.’
Since Trump Jr. joined the firm, it has diversified its investments across various ventures, such as an exclusive Washington D.C.-based nightclub named Executive Branch, where memberships begin at $500,000.
The President’s oldest son, Don Jr, has been a partner at the firm since November 2024
The company has made a series of investments in dozens of companies, including a $500k per-member nightclub in Washington DC
They had sought to create the ‘highest-end private club’ in the area and are catering to the elite.
Reuters also reports that three Elon Musk companies — SpaceX, xAI, and Neuralink — have all received investment.
Same for vape company Juul Labs.
Ethics experts are worried about the financial ties between the company and the White House.
They pointed to the company’s title, which is named after the year the US Constitution took effect.
‘I don’t think the founders would have tolerated this in 1789, that’s the irony of it,’ Richard Painter, an ethics lawyer for the White House during George W. Bush’s presidency, said.
The White House, 1789 Capital, and representatives for Don Jr. have denied any wrongdoing.
Representatives for the company could not be reached for comment.
