According to Odaily Planet Daily, Donald Trump Jr., the eldest son of President Trump, founded a private club called "Executive Branch" in Washington, D.C., in April. Membership costs $500,000. Founding members include White House crypto advisor David Sacks, the Winklevoss twins, co-founders of the crypto trading platform Gemini, and tech investor Chamath Palihapitiya. The club only accepts applications recommended by the founders and undergoes a rigorous screening process. "Executive Branch" was co-founded by Donald Trump Jr. and executives from 1789 Capital, an investment firm in which Trump Jr. became a partner last year.

People familiar with the matter revealed that in addition to the $500,000 membership fee, the club will also charge an annual fee, the specific amount of which has not been disclosed. The role played by "Executive Branch" in Washington's social and political circles may be similar to that of the Trump International Hotel in Washington, D.C. during Trump's first administration. The Trump Hotel was once a popular gathering place for government officials, Republican congressional leaders, foreign dignitaries, lobbyists, and business leaders. Potential members of the club must be strictly vetted and approved by the founders. Although some potential members are willing to pay $1 million to join, membership still requires recommendations and strict screening. (CNBC)