News Summary

• Vulcan Elements, a rare-earth magnets startup backed by Donald Trump Jr.’s VC firm 1789 Capital, has secured a $620 million contract.
• The contract is part of a $1.4 billion partnership with the U.S. government and ReElement Technologies to expand and boost the domestic supply of magnets.
• 1789 is also a backer of SpaceX and Anduril, two long-time sellers of tech to the government.
• This year alone, at least four 1789 companies have received government contracts.