A significant investment from the Ambani family has been made in a Texas startup named America First Refining, which is attempting to establish the first major new oil refinery in the U.S. in nearly 50 years. This nine-figure deal has raised eyebrows among energy sector investors due to the company's troubled history and its founder's questionable background involving previous bankruptcies and legal issues.
In a surprising twist, Donald Trump Jr. has been linked to America First Refining through a recently uncovered stake he holds in the company. The investment follows his visit to India in late November 2025, where he met with Anant Ambani, the son of one of Asia's wealthiest individuals. Their meeting included a tour of the Ambani family's private zoo and a cultural dance performance, contrasting sharply with the Trump administration's earlier tensions with the Ambani energy empire.
As Trump Jr. continues to expand his financial portfolio, which reportedly grew from around $50 million to $300 million after the 2020 election, questions about the transparency of his business dealings persist. The involvement of overseas investors with interests in the Trump family's ventures has become a recurring theme, prompting scrutiny and allegations of self-dealing.