Trump Family Businesses Face Congressional Probes in 2027

Business dealings involving President Donald Trump‘s family are expected to become a major focus of congressional investigations when Democrats take control of Congress in January 2027. Lawmakers are preparing to examine companies connected to Trump’s sons, Donald Trump Jr. and Eric Trump, amid questions about whether their business interests have benefited from federal contracts, government financing and favourable regulatory decisions during their father’s presidency.

The scrutiny covers several industries, including rare earth minerals, defence technology, drones, rockets, cryptocurrency and vaping products. Public company announcements, regulatory filings and government records have identified at least seven firms publicly associated with the Trump brothers that have received federal contracts, loans, potential investments or regulatory decisions attracting attention from lawmakers.

Democrats argue that the overlap between the Trump family’s private investments and government decisions raises questions about conflicts of interest and the use of presidential influence. The Trump family and the companies involved have rejected allegations of wrongdoing, saying the brothers are passive investors who do not control business operations or government procurement decisions.

With Democrats preparing to assume control of both chambers following the 2026 midterm elections, congressional committees will have greater authority to demand documents, call witnesses and conduct public hearings. The coming investigations could put the administration’s relationship with private businesses under sustained scrutiny during the final two years of Trump’s term.

Trump Family Business Deals Become a Priority for Democrats

Donald Trump Jr. and Eric Trump have expanded their business interests beyond the family’s traditional hotel and golf operations since their father returned to the White House in January 2025. Their activities have increasingly involved emerging technology, defence manufacturing, critical minerals and cryptocurrency.

Donald Trump Jr. is a senior partner at 1789 Capital, an investment firm that has backed companies seeking government business. Both brothers have also been associated with Dominari Holdings, a financial services company whose business network includes investments and ventures across several industries.

These connections have attracted attention because some companies associated with the brothers subsequently received significant government financing, military contracts or regulatory approvals. The timing and circumstances of those decisions have prompted Democratic lawmakers to request information from federal agencies and the businesses involved.

The issue has also attracted criticism from some Republicans. Senator John Curtis of Utah urged colleagues to examine the Trump family’s business dealings, drawing a comparison with Republican allegations concerning Hunter Biden’s business activities during his father Joe Biden’s presidency.

The criticism has not been limited to political opponents. The New York Post’s editorial board also questioned one of the Trump brothers’ business arrangements, describing the deal as something that needed greater scrutiny.

Democrats had already begun gathering information through the House Oversight and Judiciary committees before gaining control of Congress. Their authority is expected to expand when the new Congress convenes in January 2027.

Robert Garcia Signals Investigation Into Trump’s Business Network

Representative Robert Garcia of California, who is seeking to lead the House Oversight Committee, has made investigations into the Trump family’s business interests a central part of his proposed oversight agenda.

In a letter announcing his candidacy for the committee’s leadership, Garcia said he would use every available tool to investigate what he described as the Trump family’s business-related misconduct. He also warned that powerful interests benefiting from the administration should expect greater scrutiny.

Garcia later clarified in an interview with CNN that his proposed investigations would include Trump’s sons. He said they should be expected to answer questions, including potentially during congressional hearings.

Senator Richard Blumenthal of Connecticut has also identified Trump family business dealings as a priority. He is expected to lead the Senate Committee on Homeland Security and Governmental Affairs, which has oversight responsibilities involving federal agencies and government operations.

Representative Jared Huffman of California, the senior Democrat on the House Natural Resources Committee, has separately expressed interest in examining a mining arrangement connected to the Trump family.

The expected investigations could examine not only the financial relationships themselves but also whether government officials followed appropriate procedures when awarding contracts, approving loans or making regulatory decisions involving companies connected to presidential family members.

White House Prepares for Congressional Scrutiny

The Trump administration has been preparing for the possibility of a series of congressional investigations. According to people familiar with the effort, White House staff members have been hiring personal lawyers in anticipation of document requests, subpoenas and demands for testimony.

Such preparations reflect the legal and political challenges that can accompany investigations involving a sitting president, senior administration officials and private businesses.

Trump has repeatedly dismissed criticism of his sons’ business activities. However, he acknowledged in an interview with CBS’s 60 Minutes that restricting their commercial activities while he serves as president is difficult.

Asked about the challenge, Trump said it was hard to tell his sons not to do anything for four years simply because he was president.

He was also questioned about whether foreign investors might attempt to gain influence through companies he co-owns with his sons. Trump responded that he did not know, while arguing that questions about people surrounding a president were not unique to his administration.

A spokesperson for Donald Trump Jr. and Eric Trump rejected suggestions that their investments created improper government influence. The spokesperson said both brothers were passive minority investors with no involvement in the companies’ daily operations, strategic decisions, management or government contract awards.

The spokesperson also maintained that the brothers remained proud to invest in American businesses and technology.

Rare Earth Minerals and the Vulcan Elements Loan

One of the most closely watched areas involves rare earth minerals and the production of specialised magnets used in defence systems, electronics and other advanced technologies.

Vulcan Elements, a company based in Durham, North Carolina, manufactures rare earth magnets. The company publicly announced that 1789 Capital was among the investors participating in a funding round that raised a total of $65 million. Donald Trump Jr. is a senior partner at 1789 Capital, although the exact amount invested by the firm has not been disclosed.

Less than six months later, in November 2025, Vulcan announced a $620 million loan from the Pentagon’s Office of Strategic Capital and $50 million in federal incentives from the Commerce Department’s CHIPS Program Office.

The scale and timing of the government support prompted questions from Democratic lawmakers about whether the company’s political connections played any role in the financing decision.

Vulcan Elements has rejected that suggestion. A company spokesperson said Vulcan did not ask its investors to facilitate the Pentagon loan and described 1789 Capital as one of approximately 70 investing entities. The firm does not have a board representative or governance rights at Vulcan, according to the company.

Vulcan has also pointed out that it received its first three Pentagon contracts in 2024, before Trump returned to office.

1789 Capital has similarly argued that Trump Jr. does not serve on the investment committee responsible for selecting companies for investment. The firm has described the criticism as politically motivated and said its investments support American companies, workers and industries.

However, the relationship has already attracted congressional attention. Representative Jamie Raskin, the senior Democrat on the House Judiciary Committee, opened an inquiry into 1789 Capital and its investment activities.

The Vulcan deal has also raised broader questions about how federal agencies assess companies receiving government financing when their investors have connections to senior political figures. The investigation could examine the decision-making process, communications between officials and the company, and whether established procedures were followed.

Kazakhstan Tungsten Mine Deal Raises More Questions

Another area of concern involves a tungsten mining project in Kazakhstan linked through a chain of corporate relationships to the Trump brothers.

Donald Trump Jr. and Eric Trump serve on the advisory board of Dominari Holdings, a company headquartered in Trump Tower in Manhattan. A Dominari subsidiary has listed Skyline Builders LLC among its legacy holdings.

Skyline announced a merger with Cove Kaz Capital Group in May, creating Kaz Resources, a company developing a tungsten mining project in Kazakhstan.

According to a Securities and Exchange Commission filing, Kaz Resources received letters in August 2025 indicating potential financial support of approximately $1.6 billion from two US government agencies. The letters attracted attention because the project was connected to a business network involving the president’s sons.

Senate Democrats previously wrote to Trump administration officials seeking information about possible conflicts of interest. Their concerns centred on whether the Trump brothers’ business connections could overlap with federal financial support for the mining project.

Dominari has denied that the brothers exercise authority over its investment decisions, management or operations. The company said they have not sought to influence government contracts connected to businesses in which Dominari has invested.

Cove Kaz has also stressed that the government letters represented potential backing rather than a final financial commitment. The company said the United States had supported the broader tungsten project across both the Biden and Trump administrations.

The corporate structure surrounding the project changed shortly before the November midterm elections. Dominari announced that the Skyline merger had been terminated. Under a revised agreement, Skyline would hold a 26% stake in Kaz Resources, while American Ventures LLC, another entity linked to the Trump brothers, committed to purchasing 1.62% of the company’s shares.

The revised arrangement could become another subject of congressional questions as lawmakers examine the ownership structure, government support and financial interests connected to the project.

Drones and Defence Contracts Under Congressional Review

Defence technology has become another major area of interest for lawmakers examining the Trump family’s business network. Companies connected to the brothers have expanded into drone manufacturing and military technology at a time when the Pentagon is increasing its focus on unmanned systems.

One company attracting attention is Unusual Machines, a Florida-based manufacturer of drone components. Donald Trump Jr. joined its advisory board in November 2024, according to a company filing with the Securities and Exchange Commission.

Approximately a year later, Unusual Machines announced an order from the US Army for 3,500 drone motors. The company also said the Army planned to expand procurement, with a potential additional order of 20,000 components.

Democratic lawmakers subsequently sought information about communications involving Unusual Machines and federal officials. In June 2026, a group of lawmakers requested correspondence between the company, the Pentagon and the White House from then-White House Chief of Staff Susie Wiles.

The inquiry reflects concerns about whether political connections could influence government procurement decisions involving businesses associated with the president’s family.

Another company drawing attention is Powerus, a drone manufacturer formed through a March 2026 merger involving Aureus Greenway, a golf club business. Eric Trump and Donald Trump Jr. were listed as notable investors in the transaction through their association with Dominari Holdings.

Powerus announced its first Air Force purchase order in April for the production of interceptor drones. The company later disclosed an additional contract through a wholly owned subsidiary, valued at up to $90 million, for defensive drone orders.

Senators Elizabeth Warren of Massachusetts and Richard Blumenthal of Connecticut sought information about the company’s government contracts in a letter to Defence Secretary Pete Hegseth. They questioned the rationale behind combining a battlefield drone manufacturer with a golf course business.

Powerus has defended the procurement process, saying the Air Force award followed an open competition involving 10 companies. A spokesperson said the company won the contract on the basis of its technology and ability to meet military requirements.

The investigation could examine the selection process, the company’s ownership structure and the circumstances surrounding its contracts. However, the existence of a government contract or an investment by a politically connected person does not, by itself, establish that procurement rules were violated.

Rocket Manufacturer Firehawk Aerospace Also Draws Attention

Rocket manufacturer Firehawk Aerospace is another company connected to the investment activities of 1789 Capital. The investment firm led a funding round for the Dallas-based company, according to a public announcement.

Firehawk subsequently announced two Pentagon-related contracts, one with the Air Force Research Laboratory and another with the Department of Defense.

However, federal records indicate that Firehawk had received government contracts beginning in 2021, during the Biden administration. That history is relevant to questions about whether the company’s federal business began only after its connection to 1789 Capital.

Senator Elizabeth Warren raised concerns about the investment in May 2026, seeking greater scrutiny of the relationship between politically connected investment firms and defence contractors.

Firehawk has defended its record, saying it has secured government contracts across multiple administrations based on its ability to deliver products on schedule, within budget and at the required quality.

The case illustrates the broader challenge facing investigators: distinguishing legitimate commercial success and competitive procurement from situations in which political connections may have influenced government decisions.

World Liberty Financial and Cryptocurrency Oversight

Cryptocurrency is another major part of the Trump family’s business portfolio. President Trump and his two sons were listed as promoters of World Liberty Financial in a 2024 Securities and Exchange Commission filing.

The company has sought to establish a bank that would allow it to issue stablecoins, a type of cryptocurrency designed to maintain a relatively stable value by being linked to an asset such as the US dollar.

In August 2026, the Treasury Department’s Office of the Comptroller of the Currency granted preliminary conditional approval for World Liberty’s application. The decision attracted attention from Democratic lawmakers because the company is associated with the president’s family and the regulator operates within the federal government.

The OCC said its application review was conducted by career staff and that officials acted in accordance with their legal responsibilities and ethical obligations. The preliminary approval was not the same as final authorisation to operate a bank.

Ten Senate Democrats responded by introducing the Ending Presidential Corruption in Banking Act, which would restrict senior government officials from exploiting their positions to own or control a bank.

Warren has also called for an investigation into potential foreign investment and money-laundering risks connected to the company’s activities.

World Liberty Financial has defended its pursuit of a national banking charter, arguing that regulatory supervision would subject the business to continuing federal oversight. The company has said its critics overlook the fact that it is seeking regulation rather than avoiding it.

Trump’s 2026 financial disclosures also listed substantial cryptocurrency-related earnings, including income associated with wallets linked to World Liberty. The figures have added to congressional interest in the financial relationship between the president, his family and the cryptocurrency business.

1789 Capital’s Investment in Juul Raises FDA Questions

Another controversial investment involves Juul Labs, the electronic cigarette manufacturer that has faced years of regulatory scrutiny over youth vaping and the marketing of nicotine products.

1789 Capital acquired a stake in Juul in March 2025 for approximately $5 million, according to a company spokesperson. Four months later, the Food and Drug Administration authorised the sale of five Juul products, allowing them to return to the US market after an earlier regulatory dispute.

The FDA had ordered Juul to stop selling and distributing its products in 2022, citing concerns that included the company’s role in the rise of youth vaping. The company challenged the decision, and the Biden administration rescinded the order in 2024 after legal appeals and further scientific review. A new FDA review process followed before the products received authorisation in 2025.

Representative Jamie Raskin opened an inquiry into 1789 Capital’s investments in August 2026, raising questions about the relationship between the investment and the FDA’s regulatory decisions.

Juul said 1789 Capital acquired its interest through a secondary-market transaction, meaning it purchased shares from an existing shareholder rather than directly from the company.

The company also argued that the FDA’s review of alternative nicotine products had continued across multiple administrations and was based on the regulatory framework established by the Tobacco Control Act signed by former President Barack Obama.

Juul further noted that the FDA under Trump had rejected applications for certain other e-cigarette products, arguing that its decisions were not automatically favourable to the industry.

Government Ethics and Other Potential Investigations

Although Trump family business dealings are expected to dominate part of the congressional oversight agenda, Democrats have also identified other areas for investigation. These include alleged abuses in immigration enforcement, corporate influence over government decisions and the handling of the Jeffrey Epstein case.

Questions about government ethics have already surfaced in controversies involving administration officials and political associates. Trump previously asked Kimberly Guilfoyle, the US ambassador to Greece, to resign after reports that she had sought $100,000 from a Trump donor. Guilfoyle denied criminal wrongdoing.

Trump also criticised reports alleging that his former lawyer and former acting US attorney Alina Habba had received $50 million in connection with a presidential pardon. Habba denied being paid for a pardon.

Separately, the Justice Department reviewed a Department of Homeland Security investigation into allegations that aide Corey Lewandowski had sought to profit from his role at the department. Lewandowski denied the allegations.

Trump said he expected people working for his administration to act honestly and should face prosecution if they were not. The controversies have contributed to wider debate about accountability and potential conflicts of interest within the federal government.

What Congressional Investigations Could Mean for Trump and His Family

When the new Congress convenes in January 2027, Democratic lawmakers will have the authority to use committee hearings, document requests and subpoenas to investigate government decisions and private-sector relationships.

For companies connected to the Trump family, this could mean demands for investment records, communications with government officials, details of federal contracts and explanations of how regulatory or financial decisions were made.

Investigators may also seek testimony from company executives, administration officials and individuals involved in the transactions. Some inquiries could examine whether federal agencies followed established procedures, while others may focus on potential conflicts of interest and the disclosure of financial relationships.

However, congressional investigations do not automatically establish wrongdoing. Companies may have received contracts or government financing through legitimate processes, and the Trump brothers and their representatives have consistently denied using family connections to influence federal decisions.

The central question for lawmakers will be whether the available evidence shows that private business interests received improper advantages because of their connections to the president. Establishing that would require examining the decision-making process and the roles played by investors, corporate executives and government officials.

The investigations could also test how effectively Congress can oversee a sitting president’s business relationships. Subpoena powers provide lawmakers with significant investigative tools, but disputes over executive privilege, legal authority and compliance could lead to prolonged court battles.

With the Trump family’s business interests spanning several strategically important industries, the coming congressional inquiries are likely to extend beyond individual transactions. They could shape a broader debate about presidential ethics, government procurement, regulatory independence and the boundaries between public office and private commercial activity.