For the second time this year, a relatively obscure company connected to Donald Trump Jr. has received a large Department of Defense award.
Vulcan Elements, a 30-person startup that produces rare-earth magnets used in drones, radars and other military systems, secured a $620 million DoD loan, the Financial Times reported. That loan is part of a wider $1.4 billion initiative, conducted with partner ReElement Technologies, aimed at expanding magnet supply for industry and defense uses.
Vulcan has taken funding from 1789 Capital, a venture firm launched in 2023 by pro-Trump donors that brought Donald Trump Jr. on as a partner last year. The FT’s review found that at least four firms in 1789’s portfolio have won government contracts this year totaling more than $735 million.
The Vulcan announcement follows a separate contract awarded to Florida-based Unusual Machines, a drone company in which Trump Jr. has been reported to hold about $4 million in equity. According to the FT, the Army contracted Unusual Machines to produce 3,500 drone motors and signaled plans to buy an additional 20,000 components next year.
Reporting from Popular Information noted that Trump Jr. became an adviser to Unusual Machines shortly after his father’s 2024 election victory, despite lacking a public record of experience in drones or military procurement. Leaders at both Vulcan and Unusual Machines — CEO John Maslin and CEO Allan Evans, respectively — have said Trump Jr. did not participate in securing the government contracts.
Still, observers have pointed to past comments by Trump Jr. advocating that Pentagon hiring and procurement favor lower-cost unmanned systems. On his podcast he argued the military would be better served by drones that cost only a small fraction of a plane, a stance critics cite when raising concerns about possible influence.
Kedric Payne, general counsel at the Campaign Legal Center, told the Financial Times the cluster of deals involving companies backed by Trump Jr. raises ethical questions even if there is no evidence of direct intervention. Payne said presidents and their families are expected to avoid actions that create even the appearance of using public office for private financial gain, and that these transactions fall under a broader cloud of potential conflicts of interest seen in this administration.
This article was originally published by Common Dreams and is republished here under a Creative Commons license.
