Omeed Malik’s pursuit of anti-woke profits got off to a rocky start. Donald Trump Jr., his new partner, could change his fortunes.
Malik, a former Bank of America executive, advised hedge funds before being pushed out of the bank. He formed a company that then put millions into a MAGA-friendly but struggling online marketplace.
His latest endeavor, 1789 Capital, a venture capital firm aiming to invest in what he calls the “Republican/Parallel” economy, launched last year.
He discussed the idea with top investors in Republican circles, including Peter Thiel and the family office of real-estate developer Steve Witkoff, whom President-elect Donald Trump has tapped to be his envoy to the Middle East. Neither are investors.
Trump Jr.’s involvement, made public last week, is bringing it new juice. The president-elect’s son spent years in his father’s shadow before finding his calling as MAGA’s most valuable surrogate and a key adviser to his father on policy and personnel.
“It’s time to invest in companies that don’t hate you,” Trump Jr. said last year in a social-media post, promoting ideological investing.
At 1789, Trump Jr. will work alongside some of Trump’s biggest allies, mixing politics with business even as he has said he plans to stay out of the administration. His current role is honorary co-chair of his father’s transition team, where he sees his job as keeping people seeking to capitalize on roles in the administration out of it.
In addition to Malik, a one-time Democrat who is now a fixture at Mar-a-Lago, often on the tennis court, 1789’s other founders include Rebekah Mercer, the daughter of a hedge-fund chief who was one of Trump’s earliest megadonors, and Chris Buskirk, a conservative publisher who co-founded a Trump-aligned donor network with Vice President-elect JD Vance.
Malik and Trump Jr. were key in facilitating the president-elect’s ties with Robert F. Kennedy Jr., who had sought the presidency himself and is now Trump’s pick for secretary of health and human services. Conversations began just after the assassination attempt on Trump in July, according to people familiar with the timeline. In mid-August, Malik and Trump Jr. attended a meeting at Mar-a-Lago between the candidate and Kennedy, and later that month Kennedy dropped out of the race and endorsed his rival.
On Thursday night, Trump Jr., Malik and Kennedy were seated together at a black-tie gala hosted by the America First Policy Institute, a think tank focused on promoting Trump’s agenda.
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