Eric Trump and Donald Trump Jr., sons of U.S. President Donald Trump, have become co-owners of Skyline Builders, a construction group involved in developing tungsten deposits in Kazakhstan, according to sources cited by the Financial Times (FT).
In August 2025, the Trump brothers reportedly acquired a stake in Skyline Builders, though the investment amount was not disclosed. The following month, Kazakh President Kassym-Jomart Tokayev allegedly informed Donald Trump about plans to award a major tungsten mining project to Cove Kaz Capital, a U.S. investment group backed by the U.S. government.
In October, the Trump sons increased their stake in Skyline and later purchased 20% of Kaz Resources, a subsidiary of Cove Capital, which also controls Cove Kaz. In November, Cove Capital and Kazakhstan’s National Mining Company announced a deal to develop “one of the world’s largest and undeveloped tungsten deposits.”
On April 30, Cove Kaz Capital and Kaz Resources agreed to merge with Skyline. The new company plans to list its shares on the Nasdaq exchange under the Kaz Resources brand. The merger press release did not mention the Trump brothers.
FT notes there is no suggestion that Donald Trump Jr. and Eric Trump knew that Cove was on the verge of securing a contract from their father’s administration or that they influenced the award. A representative for Donald Trump Jr. told FT that he is a passive investor, does not engage in operational activities, and does not contact federal authorities on behalf of companies he invests in.
Last year, the U.S. Export-Import Bank and the International Development Finance Corporation (DFC) reportedly approved up to $1.6 billion in funding to support tungsten mining projects in Kazakhstan. A 70% controlling stake in these projects was allocated to the Cove Kaz Capital structure.
Over the past year, the Trump family has earned over $1 billion in pre-tax profits from various crypto projects and continues to invest in AI, drone, and critical minerals companies that have secured lucrative contracts from the U.S. government. Democratic Party representatives have repeatedly flagged potential conflicts of interest arising from the Trump family’s investments.
Source: www.gazeta.uz