Trump's sons are actively investing in defense companies that receive government contracts from the White House.

President Donald Trump's sons, Donald Trump Jr. and Eric Trump, have built a portfolio of defense technology startups that benefit from rising Pentagon spending. This further entwines US government interests and the Trump family's financial interests in an area critical to national security, writes The Washington Post.

The administration has made modernizing warfare a key focus of its national security policy. Meanwhile, funds linked to the Trump brothers have invested in a dozen defense technology companies and other firms seeking contracts from the Pentagon and federal agencies, according to a Washington Post analysis based on publicly available federal contracting databases, press releases, and information from PitchBook, a venture capital database.

Most of the investments were made after Trump was elected to a second term. Since then, the companies have collectively received at least $3,2 billion in direct government contracts, as well as additional options for future contracts worth $3,1 billion. Some of them have been included on lists of pre-approved contractors, which are eligible to bid on projects worth up to nearly $200 billion.

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The Trump brothers are involved in investment groups that invest in both established government contractors like SpaceX and Anduril, as well as lesser-known startups seeking to create a new generation of mobile and technologically advanced weaponry—from drones to humanoid robots capable of both mowing lawns and delivering lethal force. Most of the companies are defense-related, but some are working on products not intended for the battlefield: one is collaborating with fashion brand Prada on spacesuits, while another is trying to create quantum computers.

Company representatives who responded to inquiries from the Washington Post said they won government contracts through strict Pentagon procedures—due to the quality of their products and services, without any assistance or interference from the president's family. Some noted that they barely knew the Trump brothers or had interacted with them only sporadically. Many companies received contracts, including during the Biden administration, before the brothers became investors.

While the Trump family has expanded its business beyond real estate, including significant stakes in cryptocurrencies and mining projects, the extent of their involvement in defense technology remains less well-known. This is particularly noteworthy given the industry's reliance on government funding and its importance in the rapidly changing nature of 21st-century warfare.

SpaceX and Anduril account for 97% of the direct government payments included in the analysis and 42% of the guaranteed options on future contracts. Excluding these large companies, the remaining 13 startups linked to the Trump brothers received nearly $1,8 billion in long-term federal commitments and $103 million in direct funding during the Trump administration, following the brothers' investments.

Of the 15 companies analyzed, ten had government contracts prior to the Trump sons' investments, and eight worked with the government during the Biden administration. Five companies received their first contracts after the Trump brothers' investments and during their father's presidency.

Neither Eric Trump nor Trump Jr., who serve as vice presidents of the Trump Organization and have no official positions in the federal government, had any significant prior experience in defense technology before they began investing heavily in companies seeking contracts from the Pentagon and other agencies.

The Trump sons themselves explain their investments with patriotic motives. Eric Trump stated that the United States "must win" the artificial intelligence race. Trump Jr. has repeatedly spoken of the need to create an industrial base capable of mass-producing drones to counter potential threats from China.

White House and Pentagon officials said they saw nothing wrong with the president's sons' investments in companies that work with the federal government.

"This is the same outdated narrative Democrats have been pushing against President Trump, his family, and his administration for a decade," White House press secretary Anna Kelly said. "There is no conflict of interest."

Pentagon spokesman Joel Valdez emphasized that "no company receives preferential treatment" and that "external connections, investors, or political contacts do not influence the department's funding decisions."

However, some ethics experts and congressional Democrats believe the Trump sons' investments undermine trust in the government contracting system and may allow them to benefit from their proximity to the highest levels of government.

The bulk of the investment goes through two structures with which the brothers are associated: 1789 Capital and American Ventures.

Trump Jr. invests in defense technologies and companies seeking Pentagon contracts through the venture capital firm 1789 Capital, whose partners call their strategy "patriotic capitalism." The fund has invested in 11 of the 15 defense, robotics, and artificial intelligence companies with Pentagon contracts.

The key vehicle for Eric Trump's dealings is American Ventures, a division of investment bank Dominari Holdings. Based in Trump Tower in New York City, this entity plays a key role in the Trump sons' cryptocurrency, mining, and defense investments.

Companies backed by 1789 Capital include Elon Musk's SpaceX and defense contractor Anduril. The portfolio also includes lesser-known startups, such as Hadrian, which creates smart manufacturing facilities for the aerospace and defense industries and recently received a $900 million commitment from the US Navy.

Vulcan Elements, a three-year-old startup producing magnets from rare earth metals, received a $620 million Pentagon loan in late 2025, beating out other companies seeking funding. The company claimed to have developed "one of the most advanced defense technologies" and did not solicit investors for funding assistance.

Some companies are interconnected. Drone maker Unusual Machines went public through Dominari in early 2024, and later that year, Trump Jr. became its strategic advisor. CEO Allan Evans said Trump Jr.'s involvement increased the company's visibility and stock price. This year, Unusual Machines invested $30 million in Florida startup Powerus, which American Ventures also invested in.

The brothers invested in or advised at least four drone companies, all of which received government contracts during the second Trump administration. Two of them had already been working with the government before their investors arrived.

The American drone industry has particularly benefited from the president's policies. In December, the Federal Communications Commission banned the import of new Chinese drones, and in June 2025, an executive order was signed accelerating the testing and commercialization of American drone technology. Currently, this market is largely controlled by China.

The companies and investors included in the analysis are benefiting from a new Pentagon policy that focuses on smaller, more flexible weapons and provides accelerated access to government contracts for select startups.

This shift began under the Biden administration but has accelerated significantly under Trump. It reflects the changing nature of modern conflicts, including Russia's war against Ukraine, where drones are playing an unprecedented role. Experts point to this conflict and instability in the Middle East as arguments for increasing domestic military equipment production in the United States.

Previously, members of presidential families worked in industries involving government regulation or finance: Hunter Biden worked in corporate consulting when his father was vice president, and two of George H.W. Bush's sons worked in the oil industry.

For more information on the companies Trump's sons invested in and which received Pentagon funding, see the original article (link to the article in the first paragraph).

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The main conclusion that can be drawn from this, according to a number of ethicists, is that the scale of the Trump family's involvement in private businesses dependent on government decisions creates new ethical risks. Former officials and experts note that under the current administration, the Pentagon, while promoting the interests of individual companies, is acting less transparently.

"Even if it's in the public interest to stop buying drones from China, it's reasonable to question it when the Trump family benefits financially from them," said University of Washington law professor Kathleen Clark.

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