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Vulcan valuation estimates rose from about $200 million to about $2 billion

Date
2026-05-28
Entry type
private-company-valuation
Current status
Private-market valuation estimates; no realized 1789 return disclosed

The valuation change benefited the position of existing investors on paper, but the fund's undisclosed stake prevents a dollar attribution to Trump Jr. or 1789 Capital.

Entities and roles

Relationships in this file

  1. Donald J. Trumpson and partner at 1789 CapitalDonald Trump Jr.

Money trail

  1. equityEstimated valuation increaseabout $1.8 billion
    Ownership holder / affected party
    Vulcan Elements shareholders
    estimated · 2026-05-28 · observedPopulation Difference between reported approximate $200 million and $2 billion private-company valuationsPeriod 2025-08-11 to 2026-05-28Basis Subtract the lower reported private valuation estimate from the later estimate.Limits Paper valuation change is not cash, public cost, or 1789 Capital's return; the fund's ownership percentage is undisclosed.Open cited evidence

Claims and evidence

  1. estimateestimate

    ProPublica, citing Bloomberg estimates, reported that Vulcan Elements' valuation moved from about $200 million near 1789 Capital's investment to about $2 billion after the federal deal; 1789's ownership percentage and any realized return remained undisclosed.