Trump-Linked Fund Marketed Non-Existent 'U.S. Treasury A.I. Summit'

Investment Fund Linked to Trump Supporters Pitched Fictitious Treasury AI Event

An investment fund with ties to prominent supporters of Donald Trump, named 1789 Capital, recently attempted to sell sponsorships for an event it dubbed the 'Inaugural U.S. Treasury A.I. Summit.' However, the U.S. Treasury Department has clarified that no such official government event was authorized or organized by them. The marketing efforts, which included distributing pitch materials to technology firms, claimed that Treasury Secretary Scott Bessent would use the platform to unveil the government's artificial intelligence strategy.

Ethical Concerns Arise Over Misappropriation of Government Prestige

The fund's approach has sparked considerable ethical debate, with critics pointing to a potential misappropriation of the U.S. Treasury's prestige for private gain. Ethics experts expressed surprise at a private conference being marketed as a government-hosted event intended to announce U.S. government policy. Norm Eisen, an ethics lawyer at the Democracy Defenders Fund, was quoted stating, 'You have the official imprimatur of the U.S. Treasury being used for an event that appears to result in the personal gain of outside actors.' The pitch materials reportedly offered various perks to potential sponsors, including:

• VIP dinners
• Cocktail parties
• Logo placement in livestreams
• Other branding opportunities

These offerings led some companies to express interest, hoping to gain influence with senior administration figures.

Treasury Department Denies Authorization, Organizers Rebrand Event

A spokesperson for the Treasury Department confirmed that it had not approved the distributed materials and had no involvement in organizing the summit. While Treasury Secretary Scott Bessent had been invited and intended to attend, focusing on the economics of AI, officials maintained the department had nothing to do with the event's organization. Following media scrutiny, the organizers reportedly rebranded the conference as the 'AI Summit on American Prosperity,' removing direct references to the 'Treasury.'

Key Figures Behind 1789 Capital

1789 Capital includes among its partners Donald Trump, Jr., as well as significant GOP megadonors Rebekah Mercer and Omeed Malik. This connection to prominent figures associated with the former president has amplified the scrutiny surrounding the event's marketing and the ethical implications of leveraging perceived government endorsement for a private venture.