Details about DC's new private club catering to the 'younger, hipper, Trump-aligned Republican'
David Sacks said the club will replace older establishments and attract a new type of Republican.
Private clubs are popping up across the US, including in the nation's capitol.
There's a new private club in DC for the "younger, hipper, Trump-aligned Republican."
That's how David Sacks, President Donald Trump's crypto and AI czar, described Executive Branch on the latest episode of the All-In podcast. The most exclusive membership costs a small fortune, and Trump's orbit is full of people who can pay the price.
Interest in private clubs is soaring across the country, including in DC. Ned's Club, a separate members-only space, opened just steps from the White House earlier this year.
Here are five key details about Executive Branch, which is billing itself as MAGA's hottest new hangout.
Membership can cost half a million dollars
Founding members have to shell out $500,000 to join the invite-only club. Sacks said on All-In that there are around 10 founding members, including himself and billionaire investor Chamath Palihapitiya. They have "additional benefits," Sacks said, though he didn't specify what their special perks include.
According to the club's website, the waiting list for new members is closed.
Owners include the sons of Trump World
Sacks said on the podcast that his government work means he can't be an owner, but Politico reported that Donald Trump Jr., megadonor Omeed Malik, investor Chris Buskirk, and Zach and Alex Witkoff are the owners. Sacks congratulated the owners in a post on X, which each of them, except Trump Jr., reposted.
Malik and Buskirk cofounded 1789 Capital, an anti-ESG VC firm that has invested in Tucker Carlson's new conservative media project. Trump Jr. is a partner at the firm.
The Witkoff brothers are the sons of Steve Witkoff, Trump's Middle East envoy and a real-estate developer. The elder Witkoff has known the president for decades.
Palihapitiya responded to a request for comment from Business Insider with a poop emoji.
The other reported cofounders and owners didn't respond at all.
An alternative to the 'old and stuffy' DC
Executive Branch promises to remake the DC social scene in Trump's image, Sacks said.
"The clubs that exist in Washington today have been around for decades. They're kind of old and stuffy," he said on All-In. "To the extent that there are Republican clubs, they tend to be more Bush-era Republicans as opposed to Trump-era Republicans. We wanted to create something new, hipper, and Trump-aligned."
He said the founders wanted to create a place where people could hang out without fear of bumping into lobbyists or "a fake news reporter."
The club will reportedly be in Georgetown
The club will be based in the upscale neighborhood of Georgetown, Politico and other news outlets reported. Sacks didn't share any location details on All-In.
Lower-cost options are available
While founding members pay a staggering half-a-million dollars to join Executive Branch, other invitees can dole out a smaller sum, Sacks said on All-In.
"I think people are getting a little bit carried away with that number," he said of the $500,000 price tag. Sacks didn't specify how much lower-tier membership costs.
Regular membership at Ned's Club costs $5,000 a year, on top of a $5,000 joining fee, BI reported in April. The Founders' membership there comes in at $25,000 a year, with a $125,000 initial fee.
Read the original article on Business Insider
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Chicago Tribune
a minute ago
- Chicago Tribune
Education Department says it will release billions in remaining withheld grant money for schools
WASHINGTON — The Trump administration is releasing billions of dollars in grants to schools for adult literacy, English language instruction and other programs, the Education Department said Friday. President Donald Trump's administration had withheld more than $6 billion in funding on July 1, as part of a review to ensure spending aligned with the White House's priorities. The funding freeze had been challenged by several lawsuits as educators, Congress members from both parties and others called for the administration to release money schools rely on for a wide range of programs. Congress had appropriated the money in a bill signed this year by Trump. Last week, the Education Department said it would release $1.3 billion of the money for after-school and summer programming. Without the money, school districts and nonprofits such as the YMCA and Boys and Girls Club of America had said they would have to close or scale back educational offerings this fall. The release of that money came days after 10 Republican senators sent a letter imploring the administration to allow frozen education money to be sent to states. Those senators had also called for the rest of the money to be distributed, including funds for adult education and teaching English as a second language. The Education Department said Friday the Office of Management and Budget had completed its review of the programs and will begin sending the money to states next week. U.S. Sen. Shelley Moore Capito, was among the Congress members calling for the release of the grants. 'The programs are ones that enjoy longstanding, bipartisan support,' she said. She pointed to after-school and summer programs that allow parents to work while their children learn and classes that help adults gain new skills — contributing to local economies. In withholding the funds, the Office of Management and Budget had said some of the programs supported a 'radical leftwing agenda.' 'We share your concern,' the GOP senators had written. 'However, we do not believe that is happening with these funds.' School superintendents had warned they would have to eliminate academic services without the money. On Friday, AASA, an association of superintendents, thanked members of Congress for pressing to release the money. In Harford County, Maryland, some of the withheld federal money made up more than half the budget for the district's annual summer camp for kids learning English. The money helps the district hire certified teachers to staff the camp, incorporating learning into children's play for four weeks during the summer. The program helps kids keep their English and academic momentum over the summer. The district serves roughly 1,100 students who are non-native English speakers. Many of them are born in the U.S. to parents who came to the area seeking job opportunities, often in the restaurants and warehouses that have popped up in the past decades in the region northeast of Baltimore. During the school year, the soon-to-be-released federal money pays for tutors for kids learning English. On Thursday, more than 350 children filled the second floor of Bel Air High School for the second-to-last day of summer camp. Young learners crowded around an alphabet wheel, jostling with each other to push each letter button as they thought of foods starting with letters from A to Z. Middle school students watched a robotics team demonstration, and a few sheepishly raised their hands when asked if they would be interested in joining. High school student volunteers, some of whom had been campers learning English themselves not many years ago, helped the youngest children with art projects.
The Hill
a minute ago
- The Hill
Education Department releases $5 billion to schools after monthlong hold
The Department of Education announced Friday the release of more than $5 billion of funding to schools after an almost monthlong pause. At the beginning of July, the Trump administration paused the typical release of almost $7 billion in funding to schools that went toward after-school and summer activities, classes for English learners and adults and teacher preparation programs, among other things. Last week, the administration released more than $1 billion for after-school and summer programs but declined to say when the rest would be released. 'OMB has completed its review of Title I-C, Title II-A, Title III-A, and Title IV-A ESEA funds and Title II WIOA funds, and has directed the Department to release all formula funds. The agency will begin dispersing funds to states next week,' said Madi Biedermann, deputy assistant secretary for communications for the Education Department. Republicans were quick to celebrate the release many had fought for. Both of West Virginia's Republican senators, Shelley Moore Capito and Jim Justice, quickly reacted to news. 'This supports critical programs so many West Virginians rely on and I made that clear to OMB Director Vought,' Capito said on X, referring to Russ Vought, director of the White House Office of Management and Budget. 'The release of these funds will undoubtedly have a positive impact on the kids of West Virginia,' Justice, a former governor, said on X. Capito had led an effort among Senate Republicans earlier this month to push for the funding release. 'Exciting news to announce! All frozen education funding for the upcoming school year have been released, following my letter to the OMB! It helps centers like @KidsCanOmaha and our schools!' Rep. Don Bacon (R-Neb.) posted. The White House argued the funds were paused because some money was going to a 'radical leftwing agenda.' An administration official told The Washington Post 'guardrails' have been put on the money to align with the administration's agenda, similar language described in the release of the first $1 billion. It is unclear what these guardrails are or how they will affect the funding. The move received bipartisan pushback, with a letter from 10 Republican senators and a lawsuit from Democratic-led states demanding the funds be released. The pause in funds led to delays and closures in some programs and layoffs at schools in Alaska. 'We are pleased public schools will receive the funding as appropriated by Congress for the 2025-26 school year. On the heels of our survey released Tuesday, detailing how disruptive withholding these funds would be for our nation's students, we thank our members and allies on the Hill. We appreciate their tireless advocacy, communication and outreach to the Administration about the importance of releasing these critical funds,' said David Schuler, executive director of The School Superintendents Association.
The Hill
a minute ago
- The Hill
Senate Democrats demand answers on rural health fund
Senate Democrats are demanding answers over how the Trump administration plans to manage the $50 billion rural health slush fund included in the One Big Beautiful Bill Act (OBBBA) in light of reports that the fund was made to buy Republican votes. In a letter to Centers for Medicare and Medicaid Services (CMS) Administrator Mehmet Oz, a group of 16 Senate Democrats led by Senate Minority Leader Chuck Schumer (D-N.Y.) blasted the rural health fund as 'wholly insufficient to plug the massive hole created by the Big, Ugly Betrayal,' but said it was 'critical' that CMS provide clarity and guidance. 'We are alarmed by reports suggesting these taxpayer funds are already promised to Republican members of Congress in exchange for their votes in support of the Big, Ugly Betrayal. In addition, the vague legislative language creating this fund will seemingly function as your personal fund to be distributed according to your political whims,' they wrote. The Democrats cited additional reporting that some of the rural health fund has been promised to regions in states like Pennsylvania that are not rural. The fund will not make direct payments to rural hospitals, but will first go to states that must file 'rural health transformation plans' and receive approval from Oz. The federal government can take back any unobligated money before the program ends in 2030. 'The Big, Ugly Betrayal makes no meaningful investments in rural hospitals, rural health centers, and other rural health care providers, which have some of the most fragile operating margins in the nation, and often are the largest employers and economic engines of their communities,' their letter read. The Trump administration defended the rural health fund this week, writing in a memo that the law 'contains unprecedented levels of federal assistance to rural and other vulnerable hospitals.' The Senate Democrats asked to know when CMS would provide states with guidance on what to include in their applications, how much of the money will go to rural health care providers as well as what the administrative process will look like. They additionally asked to know 'what other states or districts have Trump Administration officials already promised funding from the rural health slush fund to?' Democratic senators who signed the letter include Sens. Ron Wyden (Ore.), Ben Ray Lujan (N.M.), Angela Alsobrooks (Md.), Edward Markey (Mass.), Martin Heinrich (N.M.), Dick Durbin (Ill.), Kirsten Gillibrand (N.Y.), Elizabeth Warren (Mass.), Richard Blumenthal (Conn.) Alex Padilla (Calif.), Tina Smith (Minn.) Andy Kim (N.J.), Chris Van Hollen (Md.), Jeff Merkley (Ore.) and Bernie Sanders (I-Vt.) The Hill has reached out to HHS for comment.
