The Family Business Abroad

President who personally entered the negotiations with Kazakh President Kassym-Jomart Tokayev, joining by phone during the September 2025 St. Regis meeting; the firm's executive chairman said Trump "did the final negotiation" that secured Kazakhstan's agreement to grant the tungsten rights. His two eldest sons hold indirect stakes in the deal.

Indirect equity exposure to the federally backed tungsten project via his anchor position in American Ventures, which invested in Skyline Builders before its May 2026 merger with Cove Kaz Capital. The FT notes there is no suggestion he knew of the pending federal commitment or influenced it.

Indirect equity exposure to the federally backed tungsten project via his anchor position in American Ventures, which invested in Skyline Builders before its May 2026 merger with Cove Kaz Capital. The FT notes there is no suggestion he knew of the pending federal commitment or influenced it.

Listed developer of the Serbia hotel project; son-in-law of President Trump.

President of Serbia; his administration approved the hotel project on government-owned land and hosted Donald Trump Jr. on his late-April 2025 visit.

Co-founder of Nexo and a former Bulgarian lawmaker; appeared on stage with Donald Trump Jr. in Bulgaria to announce Nexo's US-market re-entry.

Commerce Secretary who pushed the deal: he wrote to President Tokayev urging Kazakhstan to award the contract to the firm, met Tokayev at the St. Regis in September 2025, and sits on the boards of both federal agencies that pledged up to $1.6 billion in financing. His family's firm, Cantor Fitzgerald, raised $210 million for a partner in the deal.

Base Group's chairman, who has pursued a relationship with the Trump family since 2017. He attended Trump's second inauguration in 2025, met Eric Trump at Trump National Doral that spring, and hosted him in South Korea in February 2026 for meetings that a Base Group executive said covered ways to increase trade between the two countries.

As chair of the Public Investment Fund's board and the kingdom's paramount decision-maker, overrode the unanimous objection of PIF's screening committee to approve the $2 billion investment in Kushner's firm. Beneficiary of Kushner's defense of the crown prince inside the Trump White House after U.S. intelligence concluded he approved the 2018 killing of Jamal Khashoggi.

Hungary's Foreign Minister; met with Donald Trump Jr. in Budapest during the President's son's paid speaking tour.

Australian-born mining executive and founder of USA Rare Earth; as executive chairman of Cove Kaz Capital (renamed Kaz Resources) his firm secured the Kazakh tungsten rights and the $1.6 billion in federal financing letters of interest, holding 70 percent of the venture. He says the deal began under the Biden administration and received no political favors, and that he never met the Trump sons.

Receives branding and management fees on the $1B Trump Plaza Jeddah residential / serviced-apartment / office / townhouse complex.

London-listed international arm of Saudi developer Dar Al Arkan; announced the $1B Trump Plaza Jeddah in September 2025 as its second Jeddah-based collaboration with the Trump Organization.

Kushner's newly formed private equity firm. The $2 billion PIF commitment made the Saudi government the firm's cornerstone investor and constituted the bulk of its reported assets under management. In exchange, PIF received a stake of at least 28 percent in Affinity's main investment vehicle.

Invested in Skyline Builders in August 2025; gains indirect exposure to the federally backed tungsten project via the May 2026 Skyline / Cove Kaz merger.

Nasdaq-listed nuclear-energy and isotopes company led by Paul E. Mann; through a subsidiary it controlled Skyline Builders, the listed shell that took a 20 percent stake in the tungsten venture, and Cantor Fitzgerald raised $210 million for the company in October 2025.

Paid $2 million to Trump's holding company as a nonrefundable development fee under a letter of intent for an unannounced golf course project, while its affiliate Korea Aluminium was subject to U.S. Commerce Department trade penalties. The company has courted the Trump family since 2017 through Trump-branded wine imports and has hosted Eric Trump in Seoul. It said the golf project was unrelated to the trade dispute and disputed that it violated any U.S. trade rules.

Investment firm controlled by Howard Lutnick's family and overseen by his sons Brandon and Kyle Lutnick; in October 2025 it helped raise $210 million for ASP Isotopes, whose subsidiary controlled the Skyline shell that took a 20 percent stake in the tungsten venture, earning Cantor fees. The Commerce Department noted Lutnick had sold his ownership stake in the firm.

U.S.-registered firm that secured access to a Kazakhstan tungsten mine in November 2025 and was the direct recipient of the combined $1.6 billion in federal letters of interest. Agreed to merge with Skyline Builders in May 2026.

Government of Hungary; arranged a ministerial meeting between Foreign Minister Szijjártó and the US President's son during a paid commercial tour.

Cryptocurrency platform that paid Donald Trump Jr. to appear at a Bulgaria event and used the platform to announce its re-entry into the US market — two years after the SEC fined it $45M and forced it out of the country.

Hungarian business-news outlet that sponsored and paid for the Budapest dinner where Donald Trump Jr. appeared as a paid speaker.

Saudi Arabia's $620 billion sovereign wealth fund. Its Board Investment Committee voted unanimously against the Kushner deal at the June 30, 2021 meeting (codename "Project Astro"); the full board, chaired by Crown Prince Mohammed bin Salman, overrode the panel within days and approved the $2 billion commitment.

Qatari government counterparty whose official signed the Dar Global deal authorizing the new Trump-branded golf course and luxury villa complex.

Serbian state granted government-owned land for the planned Trump-family hotel project; President Vučić publicly courted the Trumps with the visit.

Hong Kong-based construction group that Dominari took public in early 2025 and that American Ventures invested in in August 2025. In May 2026 it agreed to merge with Cove Kaz Capital, becoming the publicly listed vehicle through which the federally backed tungsten project would flow.

Federally funded agency that issued a letter of interest committing in principle to a portion of the combined $1.6 billion in project financing for the Cove Kaz Capital tungsten mine.

Federally funded agency that issued a letter of interest committing in principle to a portion of the combined $1.6 billion in project financing for the Cove Kaz Capital tungsten mine.

UAE authorities granted required real-estate permits for the Dubai Trump Tower within roughly a month, per Eric Trump's on-stage remarks at the launch.