A little-known investment company has just surpassed $1 billion in assets.

1789 Capital, an investment firm with a team of eight according to its website—among them the President’s eldest son, Don Trump Jr—has been evolving into a significant force in the Wall Street financial landscape.

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, that same month witnessed a change in its prospects with President Donald Trump’s re-election. Shortly thereafter, his eldest son was swiftly appointed as a partner, just days post-nomination.

Since then, Reuters reports the firm has consistently spent between $5 million and $5 0million on a series of splashy investments.  

Company representatives, including Don Jr, took part in celebrating GrabAGun’s debut as a publicly listed entity by ringing the market bell. The firm has also invested in the forecast 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 company’s founders and a major donor to President Trump during the 2024 election, views the enterprise as a counterpoint to the progressive politics that conservatives allege have infiltrated business offices since the mid-2010s. 

For example, companies started investing in so-called ESG firms — organizations that prioritize environmental, social, and governance values — until investment reached a $30.3 trillion 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’s addition to the company, the firm has invested in a wide range of businesses, including an exclusive DC-based nightclub called Executive Branch with memberships starting 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.