ABC News Retracts and Revises Report on Trump Business Dealings
New York, Sunday, 11 October 2026.
ABC News republished a heavily modified report on Donald Trump Jr. and Eric Trump’s venture investments after correcting major financial errors, including mistaking a firm’s $50 million investment for $2.5 billion.
Editorial Retraction and Republication
On October 9, 2026, ABC News republished a revised version of a retracted report regarding Donald Trump Jr. and Eric Trump’s business dealings [1][2]. The initial piece was taken down without immediate explanation, only to be replaced by a substantially reduced version [1]. This editorial retraction raises operational governance questions for parent company The Walt Disney Company as national focus intensifies on corporate defense spending [1][3].
Financial Discrepancies and Corrections
The revised article includes an editor’s note acknowledging errors regarding company investment descriptions and government contracts [2]. Specifically, the inaccurate claim that 1789 Capital made a $2.5 billion investment in Anduril was corrected to reflect that the figure was the company’s total funding raised in 2025 [1]. The revised version corrected the figure to $50 million, representing a significant discrepancy calculated as 4900 percent error relative to the corrected investment amount [1][3].
Public and Industry Reactions
Following the article’s removal, Bill Ackman publicly criticized ABC News on X for the lack of a formal correction regarding the retracted story [2]. Donald Trump Jr. publicly mocked California Gov. Gavin Newsom and criticized ABC News on X regarding the retraction [4][5]. A 1789 Capital spokesperson disputed the original report, stating the outlet conflated raising funds with direct investment by the firm [5][6].
Governance and Investment Context
The revised ABC News report clarifies that Donald Trump Jr. does not serve on the three-person committee governing the firm’s investment decisions [2]. As of September 2026, Donald Trump’s estimated net worth has increased by $2.7 billion since his 2024 election victory, according to Forbes [3]. A Department of Defense official stated that the War Department maintains neutral procurement processes [6].