The sons of U.S. President Donald Trump have built a striking investment portfolio by putting money into defense technology companies that are benefiting from the Pentagon's growing budget. A Washington Post analysis shows that this convergence merges national security interests with the Trump family's financial interests.
As the Trump administration prioritizes the modernization of warfighting equipment, funds linked to the Trump brothers have invested in 15 companies that aim to secure contracts from federal agencies. A significant portion of the investments occurred after Trump was elected president for the second time.
Billions of dollars in contracts
The companies in which Trump's sons invested have secured at least $3.2 billion in direct government contracts since the election. Additionally, these companies have gained $3.1 billion in additional options for future contracts and the right to be placed on pre-approved contractor lists for projects worth a total of approximately $200 billion.
The brothers are investing not only in well-known government contractors like SpaceX and Anduril, but also in lesser-known ventures developing next-generation mobile and technological weapons, from drones to humanoid robots capable of lethal force. Some companies focus on non-battlefield products; one firm is developing a spacesuit with Prada, while another is working on quantum computers.
Responses from companies and the administration
Company representatives who spoke to The Washington Post stated that they obtained government contracts through the Pentagon's rigorous procedures, thanks to the quality of their products and services, without any help from the president's family. Some said they had barely met the Trump brothers or only interacted with them occasionally. Many companies were already working with the government before the brothers became investors, including during the Joe Biden administration.
White House spokesperson Anna Kelly said, 'This is the same stale narrative Democrats have been pushing against President Trump, his family, and his administration for a decade. There is no conflict of interest.' Pentagon spokesperson Joel Valdez stated, 'No company is given preferential treatment,' and 'outside connections, investors, or political contacts do not influence the department's funding decisions in any way.'
Ethical concerns and criticism
Some ethics experts and Democrats in Congress believe that the Trump sons' investments undermine trust in the government contracting system and could allow them to profit from proximity to the highest state power. University of Washington law professor Kathleen Clark commented, 'Even if halting drone purchases from China is in the public interest, it is entirely reasonable to be suspicious when the Trump family stands to gain financially from it.'
Former officials and experts note that under the current administration, the Pentagon is acting less transparently, favoring the interests of certain companies.
Investment vehicles and key companies
The bulk of the investments are made through two structures: 1789 Capital, linked to Trump Jr., and American Ventures, a key vehicle for Eric Trump under Dominari Holdings. 1789 Capital has invested in 11 companies, including SpaceX and Anduril. The portfolio also includes ventures such as Hadrian, which has received a $900 million commitment from the U.S. Navy, and Vulcan Elements, which obtained a $620 million loan from the Pentagon.
Of the 15 companies analyzed, 10 already had government contracts before the Trump sons' investments; 8 worked with the government during the Biden era. Five companies received their first contracts after the brothers invested and during their father's presidency. The American drone industry, in particular, has clearly 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 to accelerate the testing and commercialization of American drone technologies.
