Donald Trump Jr. and Omeed Malik Still Back Elon Musk Companies
July 15, 2025
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16:32Now PlayingDonald Trump Jr. and Omeed Malik Still Back Elon Musk Companies
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as posted by the channelDonald Trump Jr and Omeed Malik, backers of online gun company GrabAGun, talked the success of their SPAC merger, going 'long' on Elon Musk's companies, potential economic impact of the New York Mayoral race.
Donald Trump Jr., a partner at 1789 Capital, said the investment firm still supports Elon Musk’s companies financially and is looking past the billionaire’s public falling-out with his father, the US president.
“The reality is, there’s going to be political differences,” Trump Jr. said in an interview with Bloomberg TV in New York Tuesday. “I love Elon as an innovator.”
Founder Omeed Malik created 1789 Capital to invest in companies that are part of the “parallel economy” — firms broadly aligned with conservative values. It has backed Musk’s companies, including xAI and SpaceX, with more than $50 million. Malik said in the interview that the firm also invested in X, which is now merged with xAI, and Neuralink.
Malik said that won’t change, despite President Donald Trump’s feud with Musk, where the two men traded increasingly personal barbs on X, as Musk exited the administration’s monthslong effort to cut spending at government agencies, the so-called Department of Government Efficiency.
“I’m long on Elon. Our fund is,” Malik said. “We think the Elon Index, if you will, is something that’s here to stay, and the companies are demonstrating their success independent of whatever personal issue may happen.”
The two men spoke as GrabAGun, an online retailer of guns and ammunition, readied its debut on the New York Stock Exchange on Wednesday, through a deal with a blank-check company Malik runs. Trump Jr. is slated to sit on the board of the combined company.
The deal garnered $179 million in gross proceeds, according to a statement Tuesday. Trading under the ticker PEW, the newly public company will add to an expanding network of “anti-woke” businesses that 1789 backs.
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