In a whirlwind of market excitement, billionaire Trump ally John Pollson has struck gold, or at least a hefty pile of copper, thanks to a recent government investment in a mining venture. The federal government’s decision to pour $35.6 million into Trilogy Metals for a 10% stake has propelled the company—and Pollson—into the limelight. Just one day after the announcement, Trilogy’s stock saw a triumphant rise, tripling in value and shooting up by an impressive 245%. For Pollson, whose investment saw a leap from $30 million to a whopping $100 million, this news could only be described as a financial home run.
Trilogy Metals is a small mining company based out of Vancouver, which has recently gained attention due to its stake in the Amler mining district in Alaska. This area is rich with essential metals like copper and cobalt. However, it’s worth noting that the project is still in its infancy—neither has it generated any revenue yet, nor is the road to success entirely clear. Just last year, the Biden administration blocked progress on a proposed access road, citing potential impacts on Native American communities. But Trump’s administration, eager to prioritize economic growth and national security, was quick to step in, breathing new life into the venture.
Pollson, a longtime Trump supporter and founder of Pollson & Co., has played a significant role in both the business and political arenas. He has been a part of Trump’s economic policy team since the 2016 election and has hosted significant fundraisers for the former president. Rumor had it that he was even in the running for the Treasury Secretary position during the last transition, a testament to his close relationship with Trump. Yet, amidst the political connections, it’s clear that Pollson’s investments have paid off handsomely in the market this week.
As stock prices soared, Pollson’s financial history came into sharper focus. Since Trilogy’s debut in 2012, Pollson has held onto a substantial stake in the company, gradually increasing his shares from 6 million to 14.3 million by 2019. The journey of Trilogy’s stock has been anything but smooth—after a disheartening low in 2016, Pollson took advantage of the downturn by purchasing more shares at bargain prices. Fast forward to the present, and it appears that patiently riding the ups and downs of the market has truly paid off.
While some may scratch their heads at the sudden spike in Trilogy’s stock, it shows just how intertwined politics and business can be. With the government making major investments in several miners this year, Trilogy’s success stands out as a prime example of how a little political backing can turn a struggling company into the talk of the town. For Pollson, whose total net worth is estimated to be around $4 billion, this week represents just another chapter in a remarkable rise to even greater riches. So, tip your hat to John Pollson—a man who knows how to play both the political and financial fields like a grandmaster at chess.
