President Donald Trump's two sons, Donald Trump Jr. and Eric Trump, have assembled a portfolio of investments in defense technology startups.
These companies are benefiting from the U.S. Department of Defense's new strategic focus and funding, creating a deep intertwining of core U.S. national security interests with the Trump family's personal wealth.
An analysis of federal procurement data, corporate announcements, and information from financial research firm PitchBook reveals that the current administration's prioritization of modernizing combat equipment aligns with investments made by funds linked to the Trump brothers.
These funds have backed over a dozen defense technology firms and other companies seeking contracts with the Pentagon and other federal agencies.
The vast majority of these investments occurred after Trump's re-election as president. Since the brothers took stakes, these companies have collectively secured at least $3.2 billion in direct federal contracts, with an additional $3.1 billion in potential follow-on options.
Some of these firms are now on official pre-selected contractor shortlists, allowing them to bid individually on future projects with a total value nearing $200 billion.
The Trump brothers have invested, through various entities, in established government contractors like SpaceX and Anduril, as well as newer startups.
The latter focus on next-generation lightweight, cutting-edge smart weapons, with products ranging from drones to humanoid robots designed for tasks from lawn care to lethal engagement. While most operate in the defense sector, some products are not battlefield-oriented; one company is collaborating with luxury brand Prada on spacesuit design, while another focuses on quantum computer development.
Representatives from several of the contacted companies stated that their success in winning federal contracts was based solely on the merits of their products and services, denying any special treatment or intervention from the presidential family. Many pointed to the strict oversight of the Defense Department's bidding process.
Some executives indicated they had little to no personal acquaintance with the Trump brothers, with only limited contact. Several companies had won government contracts before the brothers invested, some even during the Biden administration.
The Trump family has expanded its business interests beyond real estate into areas like cryptocurrency and mining, but the scale of their investments in defense technology is less widely known.
Against the backdrop of rapidly evolving 21st-century warfare and an industry heavily reliant on government funding, this asset allocation is particularly noteworthy.
Statistics show that two leading companies, SpaceX and Anduril, account for 97% of the direct funding and 42% of the future contract value in the analyzed projects.
Excluding these two giants, the remaining 13 startups linked to the Trump brothers secured $180 million in long-term federal cooperation agreements and $103 million in immediate grants after receiving the brothers' investment.
Of the 15 companies, 10 had government business before the Trump brothers invested, and 8 held official contracts during the Biden presidency. Only 5 companies won their first federal contracts after their father took office and the brothers invested.
Donald Trump Jr. and Eric Trump, who serve as executive vice presidents of the Trump Organization and hold no federal office, had no prior professional experience in the defense technology sector before making these substantial investments in companies seeking military contracts.
White House and Pentagon officials have stated there is nothing improper about the president's sons investing in companies that do business with the federal government.
However, several ethics watchdogs and congressional Democrats have argued that the brothers' business dealings undermine public trust in the government procurement system and that they could potentially profit from their proximity to the highest levels of power.
Donald Trump Jr. and Eric Trump primarily conduct their investments through two entities: 1789 Capital and American Ventures.
Donald Trump Jr. uses 1789 Capital to invest in defense tech and other companies pursuing military contracts, with the venture firm describing its philosophy as "patriotic capitalism." Research indicates that 11 of the 15 identified defense, robotics, and AI companies with Pentagon projects received investment from 1789 Capital.
Eric Trump's main investment vehicle is American Ventures, which is part of boutique investment bank Dominari Holdings. Based in New York's Trump Tower, Dominari is described in public records and company statements as a core vehicle for the Trump brothers' investments in cryptocurrency, mining, and defense sectors.
1789 Capital's investments include Elon Musk's SpaceX and defense contractor Anduril. Other portfolio companies are less prominent: aerospace and maritime smart factory firm Hadrian recently secured a $900 million commitment from the U.S. Navy.
Vulcan Elements, a three-year-old company producing rare earth permanent magnets, was prioritized and approved for a $620 million Defense Department loan in late 2025. Vulcan Elements stated it developed industry-leading defense-grade products and never asked its investors to intervene on its behalf for the loan.
Several linked companies share equity connections. Drone manufacturer Unusual Machines went public via a Dominari-facilitated SPAC merger in early 2024, with Donald Trump Jr. later joining as a strategic advisor.
Unusual Machines CEO Alan Evans acknowledged to media that Trump Jr.'s involvement significantly boosted the company's profile and stock price. In 2026, Unusual Machines invested $30 million in Florida-based drone startup Powerus, in which American Ventures also holds a stake.
The analysis found the Trump brothers have invested in or advised at least four drone companies, all of which won government contracts during Trump's second term, with two having official business before the brothers' involvement.
The contracts, loans, and partnership opportunities identified are overwhelmingly from the Defense Department, including the Air Force, Navy, and DARPA, but also extend to other federal departments like Commerce.
Beyond major defense tech giants, the Trump brothers have also invested in several small and mid-sized defense startups that are rapidly growing within the Pentagon's procurement ecosystem.
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