A new private membership club in Washington, DC, co -founded by Donald Trump Jr., is charging a $ 500,000 membership rate, and there is already a waiting list.
The club, called Executive Branch, celebrated a launch party on Saturday night that included at least half a dozen members of the administration of President Donald Trump, as well as the CEOS, founders of technology and policy experts, according to people familiar with the club that refused to be appointed publicly speaking.
Executive Branch was founded by Donald Trump Jr., along with Omeed Malik and Christopher Buskirk of 1789 Capital, the investment firm that made Trump Jr. a partner last year. Other founders include Alex Witkoff and Zach Witkoff, the children of multimillionaire real estate developer Steve Witkoff, an old friend of the president and the current envoy of the Middle East.
Founding members include Sacks from the White House Crypto Tsar David, cryptographic investors Tyler and Cameron Winklevos and Technological Investor Chamath Palihapitiya, people familiar with CNBC said.
In addition to the $ 500,000 membership rate, the club will charge the annual fees, which have not yet been revealed.
Executive Branch will open at some point about next month or less in a place in the Georgetown neighborhood of Washington, DC, those people said.
Executive Branch is the last of a wave of private membership clubs that have been opened since the Covid pandemic in cities such as New York, Miami and Los Angeles. Clubs offer exclusive restaurants and bars, along with spaces for meetings, gyms and spas, and generally come with membership rates of approximately $ 4,000 to $ 10,000. Some, such as Aman Club in New York, for example, count up to $ 200,000.
The executive branch, more than double the cost of Aman Club, will be from afar one of the most expensive membership clubs in the US. And, unlike popular membership clubs in New York, such as Zero Bond, Core Club, ZZ or Casa Cipriani, the executive branch will probably have a selected and smaller membership, according to people familiar with the club.
Washington experts say Execution Branch could play a similar role in Washington’s social-political circuit that the Trump International Hotel in Washington DC played during the first Trump administration. The Trump Hotel became a popular meeting place for administration officials and Republican leaders of Congress, as well as foreign dignitaries, lobbyists and business leaders.
The hotel, however, also became a magnet for criticism related to ethics, and the Trump organization sold the hotel lease in 2022.
The launching event on Saturday for the Executive Branch included Secretary of State Frame Medicaid, according to people’s people, according to people’s people.
Several founders and technology CEO also attended, including Burst CEO Adam Forouchi, said people.
The possible members of the club must be very examined and approved by their founders, according to people close to the executive branch. Although some possible members have offered to pay $ 1 million to join, the membership requires a close reference and detection.
“We do not want media members or only many lobbyists to join,” said a person near the club. “We want people to feel comfortable having conversations in privacy.”
