The son of the US president, Donald Trump Jr, made a discreet visit to the British Overseas Territory of Gibraltar in November, where he held private meetings with wealthy investors, sparking fresh scrutiny of the Trump family's international moneymaking activities.
Secretive Meetings in a Tax Haven
On a Friday last November, a motorcade of blacked-out BMWs, escorted by armed police, arrived at the offices of the prominent law firm Hassans in Gibraltar. The high-profile visitor was Donald Trump Jr, who is managing the Trump Organisation while his father serves in the White House.
The Mediterranean enclave, known as a hub for the ultra-wealthy, provided the backdrop for what sources describe as a pitch to a select group of investors. Attendees reportedly included figures from the cryptocurrency sector, for which Gibraltar has crafted favourable regulations, and the territory's Chief Minister, Fabian Picardo.
According to individuals briefed on the discussions, Trump Jr delivered a talk centred on "America first" principles and promoted investment opportunities. These reportedly included a fund named 1789 Capital, viewed as the financial arm of the Maga movement, which he joined as a partner after the 2024 election.
The Global Campaign for Cash
The Gibraltar trip is the latest in a series of international ventures by Donald Trump Jr and his brother Eric over the past year, spanning from the Balkans to Vietnam. This marks a stark reversal from the first Trump term, when the family pledged to halt new foreign business deals.
The strategy appears highly lucrative. Reuters estimates that the Trump family's income soared to an estimated $864 million in the first half of this year, compared to $51 million in the same period the year before.
Critics argue that such global wealth accumulation while wielding presidential power creates profound conflicts of interest, influencing areas from tariffs to pardons. The White House maintains that "Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest."
Gibraltar's Political Intrigue
Don Jr's visit coincided with a sensitive political moment for Gibraltar's elite. The law firm Hassans is at the centre of a major public inquiry, examining events around a 2020 police attempt to execute a search warrant against its senior partner, James Levy.
Levy, a mentor to Chief Minister Picardo, is a dominant figure in Gibraltarian affairs. The inquiry has heard evidence that Picardo intervened in the related criminal investigation. With the inquiry's report due by Christmas, local observers suggested the high-profile visit and associated publicity could be seen as helpful to the ruling circle.
When questioned by reporters after the meeting, Picardo would only say he had met with "investors" and people interested in "what Gibraltar can do."
The 1789 Capital fund, named for the year the US Bill of Rights was adopted, has reportedly grown to hold over $1 billion in assets. Its investments span military AI, e-cigarettes, and Elon Musk's neural implant startup, though its investors remain undisclosed.
This fusion of political branding, private wealth, and global deal-making is reshaping perceptions of American power, raising an enduring question: when a president's family member seeks foreign investment in secretive jurisdictions, who truly benefits?
