Donald Trump Jr.’s firm invested in a rare earth minerals company, which, like all rare earth firms, received government loan appropriations under both President Biden and President Trump. A claim circulating in among Democrats and mainstream media holds that Donald Trump Jr. owns a rare earth company that received a $620 million government loan, representing corruption by the Trump administration. The claim is false on multiple levels. Vulcan Elements, a rare earth magnets startup, received the loan from the Pentagon’s Office of Strategic Capital in November 2025. Trump Jr. neither owns nor operates Vulcan Elements. He is a partner at 1789 Capital, a venture capital firm that made a minority equity investment in Vulcan Elements in August 2025, approximately three months before the loan was…
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