White House Got $620m Rare Earths Deal for Firm Tied to Trump Jr.: Report
ProPublica says the White House pushed the deal through in weeks, and the startup had drawn a Trump Jr. investment months earlier.
- ProPublica reported yesterday that White House Senior Counselor Peter Navarro directed the Pentagon to approve a $620 million loan to Vulcan Elements, a North Carolina rare-earth magnet company linked to Donald Trump Jr.
- Navarro and Trump Jr. have formed a close bond in recent years, with Trump Jr. visiting Navarro in prison while he served time for defying a subpoena from lawmakers investigating the January 6, 2021 Capitol riot.
- Pentagon staff worked late nights to process the loan in weeks after receiving the White House directive; of dozens of companies under review, Vulcan was the only deal initiated by a top presidential aide.
- Vulcan's valuation surged from around $200 million to around $2 billion after the Pentagon loan announcement, benefiting Trump Jr.'s venture firm 1789 Capital, which had purchased an undisclosed stake months earlier.
- ProPublica's reporting marks the first documented instance of direct White House intervention on behalf of a Trump-linked company, prompting Democratic lawmakers and good government experts to allege self-dealing, though the White House said it is working "in the best interest of the American people.
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Peter Navarro Accused of Ramming $600 Million Pentagon Loan to Startup Tied to Donald Trump Jr
A White House adviser personally intervened to push the largest loan in Pentagon history to a start-up backed by Donald Trump Jr., just weeks after Trump Jr.'s venture capital firm had quietly taken a stake in the very same company. What began as an obscure financing decision has now become a test case for how far political influence can reach into the Defence Department's balance sheet. That is the finding of a ProPublica investigation publishe…
A startup in which Donald Trump Jr. is involved receives a record-breaking loan from the US Department of Defense. Research reveals that the White House was involved.
White House asked Pentagon to loan money to a company linked to Trump's oldest son
A ProPublica investigation by Robert Faturechi says White House adviser Peter Navarro asked the Pentagon to approve a loan to a rare-earth magnet company in which Donald Trump Jr. has a stake.
The White House Brokered a $620 Million Deal for a Company Tied to Donald Trump Jr.
This story was originally published by ProPublica.When the Pentagon announced a $620 million loan last year to a small North Carolina startup linked to Donald Trump Jr., defense officials and the company tried to tamp down suspicions of cronyism. The president’s eldest son said through a spokesperson that he wasn’t involved. The Pentagon said Trump Jr. played no role in the record-setting deal. And the startup’s founder told reporters that his c…
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