For the second time this year, a little-known firm supported by Donald Trump Jr. has landed a major Pentagon contract.
The Financial Times reported that Vulcan Elements, a 30-person startup that makes rare-earth magnets used in drones, radars and other military equipment, secured a $620 million loan from the Department of Defense. The loan is part of a broader $1.4 billion effort, alongside partner ReElement Technologies, to boost magnet supplies for industry.
Vulcan has taken investment from 1789 Capital, a venture firm started in 2023 by pro-Trump donors that added Trump Jr. as a partner last year. The FT’s analysis found that at least four companies in 1789’s portfolio have won contracts from the administration this year, totaling more than $735 million.
News of the Vulcan deal follows a recent contract awarded to Florida-based Unusual Machines, a drone startup in which Trump Jr. has held a reported $4 million stake. The Army has contracted Unusual Machines to produce 3,500 drone motors and indicated plans to order an additional 20,000 components next year, the FT reported.
Popular Information notes Trump Jr. became an adviser to Unusual Machines shortly after his father’s 2024 election victory despite having no notable background in drones or military procurement. Both Vulcan CEO John Maslin and Unusual Machines CEO Allan Evans have said Trump Jr. did not help secure the government contracts.
Still, Popular Information flagged earlier remarks by Trump Jr. about influencing Pentagon hiring to favor candidates who would spend more on drones, asserting on his podcast that the military is “better served with a drone that costs … a tiny fraction of that of a plane.”
Kedric Payne, general counsel at the Campaign Legal Center, told the Financial Times the deals involving Trump Jr.-backed companies raise ethical concerns even if the president’s son did not directly intervene. “Presidents are expected to avoid even the appearance that they are using their office to financially benefit themselves or their family,” Payne said. “While we do not know for certain if, or how, the president may have influenced this loan, it falls under the cloud of conflicts of interest we have seen throughout this administration.”
This article, originally published by Common Dreams, is republished under a Creative Commons license.
