Trump's sons in the $1bn fund investing in sectors supported by daddy

Eric Trump and Donald Trump Jr, sons of the US president, have contributed to a $1 billion fund set up by a New York brokerage firm that invests in US companies active in sectors supported by the White House.

This was revealed by an investigation by the Financial Times, according to which the two scions of 'The Donald' invested in funds launched by American Ventures, a division of the Dominari Holdings financial group based in Trump Tower.

The latter's purpose is 'to identify and invest in leading US companies in new technologies that create US jobs and reduce the country's dependence on foreign resources'. For its part, American Ventures, headquartered in Palm Beach, Florida, has set up dozens of entities over the past ten months to channel hundreds of millions of dollars from family offices and wealthy individuals into distressed small-cap stocks and private companies in sectors such as drone manufacturing, cryptocurrencies, and artificial intelligence.

Three areas largely supported by Trump in his second presidential term. The involvement of the two brothers in American Ventures underscores the close ties the president's family has with companies set to benefit from the policy agenda of daddy's administration.

According to documents filed with regulators, Eric Trump and Don Jr together hold about 12% of Dominari, which in turn owns 90% of American Ventures. Trump's two sons have also contributed to most of the funds managed by American Ventures, although the exact amount of their investments is not known. This is not the first time that suspicions of conflicts of interest in the entrepreneurial activities of Eric Trump and Don Trump Jr. have surfaced, but never before have such details emerged.