Trump Family Expected to Earn Billions from Major Kazakhstan Tungsten Deal

A major business deal involving U.S. President Donald Trump and U.S. Commerce Secretary Howard Lutnick with the government of Kazakhstan is set to generate substantial profits for their families, according to a New York Times investigation published on June 29, 2026. The deal grants an American private company, Kaz Resources, access to one of the world's largest tungsten reserves in Kazakhstan. Tungsten is a rare metal critical for manufacturing missile warheads, fighter jets, computer chips, and other essential products. The U.S. government has pledged up to $1.6 billion in federal funding to support the project.

The investigation revealed that within weeks of the deal's advancement, companies partially owned by Trump’s sons, Donald Jr. and Eric Trump, acquired about 20% of a corporate entity linked to the Kazakhstan project. Simultaneously, an investment firm controlled by the Lutnick family, managed by his sons Brandon and Kyle, helped raise funds related to the deal. These financial moves were not publicly disclosed at the time. The final agreement was signed six days after the Trump family’s investment.

The New York Times report highlights that this arrangement is part of a broader pattern, with the Trump and Lutnick families connected to at least 14 companies actively engaged in strategic mining contracts with the federal government. These companies have either received or are seeking federal financial assistance or licenses overseen by the Commerce Department, led by Lutnick. The total federal funding granted or considered for these companies exceeds $8.9 billion, based on public statements from the companies and government sources.

This disclosure underscores the significant financial benefits accruing to the families of top U.S. officials through government-related business dealings, raising questions about conflicts of interest and transparency during the Trump administration.