{"id":3306,"date":"2026-06-30T06:06:52","date_gmt":"2026-06-30T06:06:52","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=3306"},"modified":"2026-06-30T06:06:52","modified_gmt":"2026-06-30T06:06:52","slug":"trump-lutnicks-sons-stand-to-gain-big-profits-from-billion-dollar-mining-deal-report","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=3306","title":{"rendered":"Trump, Lutnick’s sons stand to gain big profits from billion-dollar mining deal: report"},"content":{"rendered":"
\n

The sons of President Trump and Commerce Secretary Howard Lutnick stand to see a big windfall after businesses tied to the families helped secure a $1.6 billion mining deal in Kazakhstan, according to a new report. <\/p>\n

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After Trump and Lutnick closed a deal for an American company called Kaz Resources to mine one of the world\u2019s largest untapped reserves of tungsten last November, records indicate that firms tied to their sons saw financial gain from the contract, the New York Times reported. <\/p>\n

Dominari Securities \u2014 which is housed at Trump Tower in New York and partly owned by the president\u2019s two eldest sons, Donald Trump Jr. and Eric Trump \u2014 had joined other investors to take a 20% stake in a company related to the project. <\/p>\n

At the same time, Cantor Fitzgerald \u2014 an investment company controlled by Lutnick\u2019s family and overseen by his sons Brandon and Kyle Lutnick \u2014 helped one of the investors working with Dominari raise $210 million in new capital. <\/p>\n

The dealings have raised questions about the Trump and Lutnick families\u2019 financial gains under deals struck during the president\u2019s second term. <\/p>\n

\u201cThe only special interest guiding the Trump administration\u2019s decision-making is the best interest of the American people,\u201d White House spokesman Kush Desai told The Post. <\/p>\n

\u201cSecuring and reshoring America\u2019s critical supply chains has been a top priority for President Trump, and Secretary Lutnick along with the rest of the Administration continue to take historic action to safeguard America\u2019s national and economic security.\u201d<\/p>\n

The Kazakhstan deal manifested last year as the US moved to increase its tungsten supply, a precious metal needed to produce missiles, fighter jets, computer chips and other critical goods to compete against China. <\/p>\n

During the negotiations, Lutnick pushed Kazakhstan President Kassym-Jomart Tokayev to give the mining contract to Kaz Resources executive chairman Pini Althaus and his backers, writing in a letter that the Trump administration \u201cfully supports\u201d the company. <\/p>\n

When Tokayev arrived in New York in September to meet at the St. Regis hotel to discuss the deal, Trump personally called in to handle the final negotiations and seal the deal, Althaus told the Times. <\/p>\n

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Within weeks of the St. Regis talks, Dominari Securities and Cantor Fitzgerald made their move, with the deal officially signed on Nov. 6, just six days after the investment involving the Trump sons and their partners, the Times reported.<\/p>\n

While none of the $1.6 billion in government support for the Kazakh deal has come through yet, federal filings suggest that both Dominari and Cantor earned fees for their work helping raise capital for the project, according to the Times. <\/p>\n

Dominari, which hired the Trump brothers as paid advisers after the president returned to the White House, did not immediately respond to The Post\u2019s request for comment.<\/p>\n

The Trump brothers have said they were not involved in the specifics of the deal, with Eric writing that he has always remained a \u201cpassive investor,\u201d the Times reported. <\/p>\n

\n<\/div>\n

Cantor said it merely serves as a partner for companies to raise capital when investing in the critical minerals industry. <\/p>\n

\u201cCantor\u2019s involvement is limited to supporting capital raises in the public markets and does not include participation in negotiations with the current or any prior administration,\u201d the company told The Post. <\/p>\n

The Commerce Department told the Times that neither Secretary Lutnick nor anyone at the department \u201cinteracted with or had any discussions whatsoever with Cantor Fitzgerald regarding the rare earth minerals industry,\u201d noting that the Trump official had sold his ownership stake in the company.<\/p>\n

Althaus maintains that he had never met the Trump brothers during his hunt for investors and did not know they were involved. <\/p>\n

\u201cI can see how the optics might be disturbing to some people, but that\u2019s unfortunate because this company and this project goes way beyond any one president, let alone any family,\u201d he told the Times. <\/p>\n

Read more Ronny Mauricio hits Francisco Alvarez with swing in on-deck circle in wild Mets moment<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The sons of President Trump and Commerce Secretary Howard Lutnick stand to see a big windfall after businesses tied to the families helped secure a $1.6 billion mining deal in Kazakhstan, according to a new report. <\/p>\n","protected":false},"author":1,"featured_media":3305,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news"],"yoast_head":"\nTrump, Lutnick's sons stand to gain big profits from billion-dollar mining deal: report - Metro Transit Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/metrotransitreview.com\/?p=3306\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump, Lutnick's sons stand to gain big profits from billion-dollar mining deal: report - 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