DOD Gives $620M Loan to Startup Backed by Donald Trump Jr.’s VC Firm
In December 2025, social media users claimed a startup backed by Donald Trump Jr.’s investment firm, 1789 Capital, received a $620 million loan from the U.S. Department of Defense. This claim was confirmed to be true, with the company, Vulcan Elements, announcing the loan on November 3, 2025. The DOD confirmed the loan, emphasizing its role in supporting the production of rare earth element processing and magnet manufacturing within the United States. While Trump Jr. is a partner at 1789 Capital, a Pentagon official stated he was not involved in the loan discussions.
John Q. Hosedrinker