Fresh from saving Trump II's Quasimodo like economic twin, Argentinian President Javier Millei, with a $20 billion currency lifeline, Bessent has to deal with sleazy promises made by the President's elder son. Don Jr. is a partner with 1789 Capital, a private equity underwriter (PEU).
Don Jr.'s PEU firm approached America's TechGods for yet another cash infusion. Surely, these people have a limit. It's been nine months since Trump II's inauguration and the administration and family have perpetually had their hand out, expecting $ millions a pop.
The new financial center is around Mar-a-lago and that brings us to Alexa Rachline Rubenstein of West Palm Beach. Alexa's father is PEU legend David Rubenstein, co-founder of The Carlyle Group and founder of Declaration Partners, which has roots as his family office. Declaration birthed Hobe Mountain Capital, which will focus on buying and selling PEU secondary offerings.
How many secondaries came from Declaration itself? If any, that doesn't sound like an arm's length deal at all given father and daughter would have gotten together to decide the marks.
These two stories are but markers along the way. Politicians Red & Blue love PEU and their new TechGod brethren. Increasingly, more are one and their sons (as well as daughters) are slated to become far richer than their fathers. It's a grand time to be in charge for the taking is unfettered.
