Donald Trump Jr. is becoming a member of the board of prescription entry platform BlinkRx, following 1789 Capital’s $140 million funding within the startup — making it the most recent board the primary son has joined for the reason that election, NYNext has realized.
Somewhat than take a job in his father’s administration, Trump Jr. has doubled down on his personal sector presence. Since November, he has joined Omeed Malik’s 1789 Capital in addition to the boards of e-commerce platform PublicSquare and firearms retailer Seize-a-Gun, The Publish beforehand reported.
Trump Jr. and Malik informed NYNext they’re centered on fixing most of the identical issues authorities is engaged on, like making healthcare extra reasonably priced and inspiring technologic innovation, however doing so with private-sector options.
“1789 invests in innovative technologies in areas of the economy, like education and healthcare, where excessive government involvement has actually led to poor outcomes and higher costs,” Malik stated. “Our portfolio companies seek to rectify those problems using the free market.”
“It’s outrageous that hardworking Americans can’t get the medications they need,” Trump Jr. informed NYNext. “BlinkRx has built the most advanced technology and business model to fix this broken system. I’m fully committed to doing everything in my power to ensure every single American has access to the medicine they deserve. This isn’t just a business — it’s a mission to solve one of healthcare’s biggest failures using entrepreneurship and innovation.”
The transfer comes as BlinkRx appears to be like to increase its efforts to supply low-cost prescription remedy supply and assist for sufferers throughout the US, and because the Well being and Human Companies division weighs potential partnerships with the personal sector. Malik and Trump Jr. are shut with Robert F. Kennedy Jr. and had been instrumental in bringing him into the MAGA fold.
“We are hopeful that all these incoming administration members are focused on innovation and using that to solve problems. We are excited to work with them and every other stakeholder,” BlinkRx CEO Geoff Chaiken informed NYNext.
In accordance with a BlinkRx spokesperson, its customers save a median of $70 per prescription. The web pharmacy helps sufferers entry drugs at decrease costs by working immediately with pharmaceutical producers and analyzing insurance coverage prices to search out probably the most reasonably priced choices. Sources informed NYNext the corporate is anticipated to go public within the subsequent two years.
“There is so much friction in getting prescriptions. You don’t know if it’s in stock, how much it will cost or if you can get it at a lower price,” Chaiken added. “BlinkRx connects all the stakeholders in the ecosystem so you know the lowest price after the prescription is written for you, and we facilitate the delivery at home.”
Malik and Trump have grow to be important buyers within the “parallel economy,” capitalizing on alternatives passed over by woke buyers who prioritize firms selling environmental, social and governance points, often called ESG investing. As a substitute, Malik has coined the shorthand EIG — entrepreneurship, innovation and development — to characterize 1789 Capital’s priorities.
Trump Jr.’s involvement with BlinkRx not solely serves as a stamp of approval from the MAGA crowd but additionally exhibits how the parallel economic system is increasing to the touch each sector.
Malik took conservative e-commerce firm PublicSquare public by way of a particular goal acquisition firm in 2023. He’s since expanded the funding portfolio to incorporate firearms, Tucker Carlson’s media community, rocket-engine producer Firehawk and publication platform Substack.
1789 led the corporate’s most up-to-date $140 million funding spherical that closed in November and included Joe Lonsdale’s 8VC, Constancy Investments, Paul Allen’s household workplace Cercano Administration and Sweetwater Non-public Fairness — and obtained the boat seat that Trump Jr. is filling in return.
Malik co-founded 1789 Capital — named for the 12 months the Invoice of Rights was adopted — with Chris Buskirk who launched conservative advocacy group Rockbridge Community with JD Vance. The agency raised greater than $150 million from GOP mega-donor Rebekah Mercer, who helped again information website Breitbart, analysis agency Cambridge Analytica and former Arizona Senate candidate Blake Masters.
