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House Judiciary Democrats launch inquiry into Trump Jr.'s investment firm

Representative Jamie Raskin requested records regarding 1789 Capital's rapid asset growth and government-linked investments, while firm counsel dismissed the probe as politically motivated.

Updated Aug 27, 2026 · 21:17 UTC1 reports

The short version

  • House Judiciary Committee Democrats sent a letter requesting internal communications and records from Donald Trump Jr. and 1789 Capital executives by September 9.
  • The inquiry highlights the firm's growth from a reported $150 million in 2024 to $3.5 billion by May, along with investments in companies securing government contracts or federal support.
  • Because House Democrats are in the minority, they lack subpoena power without Republican support to enforce the requests.

Key facts

  • Representative Jamie Raskin, ranking Democrat on the House Judiciary Committee, requested records and communications from Donald Trump Jr. and 1789 Capital co-founders Omeed Malik and Christopher Buskirk.[The Guardian]
  • Donald Trump Jr. joined 1789 Capital as a partner in November 2024 following the presidential election.[The Guardian]
  • SEC filings and media reports show 1789 Capital's managed assets grew from approximately $150 million in 2024 to $3.5 billion by May, with 40% coming from foreign investors.[The Guardian]
  • The inquiry notes 1789 Capital holdings in companies receiving federal backing, including rare earth producer Vulcan Elements, which secured a $620 million loan from the Pentagon and a $50 million grant from the Commerce Department.[The Guardian]
  • 1789 Capital counsel AJ Merton rejected the allegations, characterizing the inquiry as a partisan stunt and politically motivated harassment.[The Guardian]

What remains uncertain

  • It remains uncertain whether 1789 Capital executives will comply with the records request by the September 9 deadline, as minority Democrats cannot issue subpoenas unilaterally.[The Guardian]
  • Whether any insider influence or policy awareness directly contributed to the firm's investment performance remains disputed, with Donald Trump Jr. denying that he discusses business with his father or holds a government role.[The Guardian]

Sources