Don Jr.’s Investor Business Partner Abruptly Resigns From Fannie Mae Board

Conservative businessman Omeed Malik, a close Trump ally and business partner of Donald Trump Jr., has stepped down from the board of Fannie Mae.The government-sponsored mortgage giant said in a filing with the Securities and Exchange Commission on Tuesday that Malik resigned from the board of directors, effective Oct. 30. Malik is president of the venture capital firm 1789 Capital as well as founder of investment bank Farvahar Partners. Trump Jr. joined 1789 as a partner in November 2024.Malik "brings extensive experience in financial services and capital markets as well as a blend of legal, entrepreneurial, and strategic leadership expertise," Fannie said in its last annual report in February. He was paid $114,222 last year, that filing shows.As a member of the eight-member board, Malik has been a part of Fannie Mae as it has enlarged its balance sheet at the behest of President Donald Trump, who pushed the GSE to buy mortgage-backed securities in a bid to lower mortgage rates.Trump has also floated the idea of ending the conservatorship of Fannie Mae and Freddie Mac, potentially setting the stage for a $30 billion IPO. But the Trump administration has said little of those plans ...