Latest news with #Ned'sClub
Axios
6 days ago
- Business
- Axios
D.C.'s private clubs surge with demand — and big names
Washington's private club landscape — both the old guard and the new guard — is booming, per a new New York Times article. Why it matters: Four prominent D.C. clubs — newcomers the Executive Branch and Ned's Club and the old-school Metropolitan Club and Cosmos Club — all are expanding, have waitlists, or a combo of the two, the newspaper reports. This comes during an increasingly partisan moment in Washington, when many people are looking for familiar retreats. State of play: Executive Branch, a Trump-centric private club opening in Georgetown next month, will run you as much as $500,000 to be a member. It'll be in the underground space once home to Clubhouse and Church Hall, with design nods to the Aman New York. And don't expect to find typical Beltway figures there, White House crypto czar David Sacks tells the Times — think "a fake news reporter" or "a lobbyist," aka people "we don't know and we don't trust." "You have to know the owners," one club spokesperson told the Times while on a private plane returning from overseas. "This is not just for any Saudi businessman." Donald Trump Jr. is a lead investor, and founding members include Sacks and crypto twins Cameron and Tyler Winklevoss. President Trump, meanwhile, is expected to make appearances now that the former Trump Hotel is no longer available as a hangout. Meanwhile, at Ned's Club, which opened downtown in January, members include Treasury Secretary Scott Bessent, MSNBC's Symone Sanders Townsend, CNN's Kaitlan Collins and Phil Rucker, and the Wall Street Journal's Josh Dawsey. Also spotted on the Ned circuit: Mark Cuban and Commerce Secretary Howard Lutnick. Fees at the club start at $5,000 to join, with annual dues of $5,000. It's $1,000 for federal workers.
Business Insider
06-05-2025
- Business
- Business Insider
Details about DC's new private club catering to the 'younger, hipper, Trump-aligned Republican'
There's a new private club in DC for the "younger, hipper, Trump-aligned Republican." That's how David Sacks, President Donald Trump 's crypto and AI czar, described Executive Branch on the latest episode of the All-In podcast. The most exclusive membership costs a small fortune, and Trump's orbit is full of people who can pay the price. Interest in private clubs is soaring across the country, including in DC. Ned's Club, a separate members-only space, opened just steps from the White House earlier this year. Here are five key details about Executive Branch, which is billing itself as MAGA's hottest new hangout. Membership can cost half a million dollars Founding members have to shell out $500,000 to join the invite-only club. Sacks said on All-In that there are around 10 founding members, including himself and billionaire investor Chamath Palihapitiya. They have "additional benefits," Sacks said, though he didn't specify what their special perks include. According to the club's website, the waiting list for new members is closed. Owners include the sons of Trump World Sacks said on the podcast that his government work means he can't be an owner, but Politico reported that Donald Trump Jr., megadonor Omeed Malik, investor Chris Buskirk, and Zach and Alex Witkoff are the owners. Sacks congratulated the owners in a post on X, which each of them, except Trump Jr., reposted. Malik and Buskirk cofounded 1789 Capital, an anti-ESG VC firm that has invested in Tucker Carlson's new conservative media project. Trump Jr. is a partner at the firm. The Witkoff brothers are the sons of Steve Witkoff, Trump's Middle East envoy and a real-estate developer. The elder Witkoff has known the president for decades. Palihapitiya responded to a request for comment from Business Insider with a poop emoji. The other reported cofounders and owners didn't respond at all. An alternative to the 'old and stuffy' DC Executive Branch promises to remake the DC social scene in Trump's image, Sacks said. "The clubs that exist in Washington today have been around for decades. They're kind of old and stuffy," he said on All-In. "To the extent that there are Republican clubs, they tend to be more Bush-era Republicans as opposed to Trump-era Republicans. We wanted to create something new, hipper, and Trump-aligned." He said the founders wanted to create a place where people could hang out without fear of bumping into lobbyists or "a fake news reporter." The club will reportedly be in Georgetown The club will be based in the upscale neighborhood of Georgetown, Politico and other news outlets reported. Sacks didn't share any location details on All-In. Lower-cost options are available While founding members pay a staggering half-a-million dollars to join Executive Branch, other invitees can dole out a smaller sum, Sacks said on All-In. "I think people are getting a little bit carried away with that number," he said of the $500,000 price tag. Sacks didn't specify how much lower-tier membership costs. Regular membership at Ned's Club costs $5,000 a year, on top of a $5,000 joining fee, BI reported in April. The Founders' membership there comes in at $25,000 a year, with a $125,000 initial fee.
Yahoo
06-05-2025
- Business
- Yahoo
Details about DC's new private club catering to the 'younger, hipper, Trump-aligned Republican'
There's a new, Trump-aligned private club in DC, where membership can reach half-a-million dollars. David Sacks said the club will replace older establishments and attract a new type of Republican. Private clubs are popping up across the US, including in the nation's capitol. There's a new private club in DC for the "younger, hipper, Trump-aligned Republican." That's how David Sacks, President Donald Trump's crypto and AI czar, described Executive Branch on the latest episode of the All-In podcast. The most exclusive membership costs a small fortune, and Trump's orbit is full of people who can pay the price. Interest in private clubs is soaring across the country, including in DC. Ned's Club, a separate members-only space, opened just steps from the White House earlier this year. Here are five key details about Executive Branch, which is billing itself as MAGA's hottest new hangout. Membership can cost half a million dollars Founding members have to shell out $500,000 to join the invite-only club. Sacks said on All-In that there are around 10 founding members, including himself and billionaire investor Chamath Palihapitiya. They have "additional benefits," Sacks said, though he didn't specify what their special perks include. According to the club's website, the waiting list for new members is closed. Owners include the sons of Trump World Sacks said on the podcast that his government work means he can't be an owner, but Politico reported that Donald Trump Jr., megadonor Omeed Malik, investor Chris Buskirk, and Zach and Alex Witkoff are the owners. Sacks congratulated the owners in a post on X, which each of them, except Trump Jr., reposted. Malik and Buskirk cofounded 1789 Capital, an anti-ESG VC firm that has invested in Tucker Carlson's new conservative media project. Trump Jr. is a partner at the firm. The Witkoff brothers are the sons of Steve Witkoff, Trump's Middle East envoy and a real-estate developer. The elder Witkoff has known the president for decades. Palihapitiya responded to a request for comment from Business Insider with a poop emoji. The other reported cofounders and owners didn't respond at all. An alternative to the 'old and stuffy' DC Executive Branch promises to remake the DC social scene in Trump's image, Sacks said. "The clubs that exist in Washington today have been around for decades. They're kind of old and stuffy," he said on All-In. "To the extent that there are Republican clubs, they tend to be more Bush-era Republicans as opposed to Trump-era Republicans. We wanted to create something new, hipper, and Trump-aligned." He said the founders wanted to create a place where people could hang out without fear of bumping into lobbyists or "a fake news reporter." The club will reportedly be in Georgetown The club will be based in the upscale neighborhood of Georgetown, Politico and other news outlets reported. Sacks didn't share any location details on All-In. Lower-cost options are available While founding members pay a staggering half-a-million dollars to join Executive Branch, other invitees can dole out a smaller sum, Sacks said on All-In. "I think people are getting a little bit carried away with that number," he said of the $500,000 price tag. Sacks didn't specify how much lower-tier membership costs. Regular membership at Ned's Club costs $5,000 a year, on top of a $5,000 joining fee, BI reported in April. The Founders' membership there comes in at $25,000 a year, with a $125,000 initial fee. Read the original article on Business Insider
Business Insider
06-05-2025
- Business
- Business Insider
5 details about Executive Branch, DC's new private club for young, MAGA-minded millionaires
There's a new private club in DC for the "younger, hipper, Trump-aligned Republican." That's how David Sacks, President Donald Trump 's crypto and AI czar, described Executive Branch on the latest episode of the All-In podcast. The most exclusive membership costs a small fortune, and Trump's orbit is full of people who can pay the price. Interest in private clubs is soaring across the country, including in DC. Ned's Club, a separate members-only space, opened just steps from the White House earlier this year. Here are five key details about Executive Branch, which is billing itself as MAGA's hottest new hangout. Membership can cost half a million dollars Founding members have to shell out $500,000 to join the invite-only club. Sacks said on All-In that there are around 10 founding members, including himself and billionaire investor Chamath Palihapitiya. They have "additional benefits," Sacks said, though he didn't specify what their special perks include. According to the club's website, the waiting list for new members is closed. Owners include the sons of Trump World Sacks said on the podcast that his government work means he can't be an owner, but Politico reported that Donald Trump Jr., megadonor Omeed Malik, investor Chris Buskirk, and Zach and Alex Witkoff are the owners. Sacks congratulated the owners in a post on X, which each of them, except Trump Jr., reposted. Malik and Buskirk cofounded 1789 Capital, an anti-ESG VC firm that has invested in Tucker Carlson's new conservative media project. Trump Jr. is a partner at the firm. The Witkoff brothers are the sons of Steve Witkoff, Trump's Middle East envoy and a real-estate developer. The elder Witkoff has known the president for decades. Palihapitiya responded to a request for comment from Business Insider with a poop emoji. The other reported cofounders and owners didn't respond at all. An alternative to the 'old and stuffy' DC Executive Branch promises to remake the DC social scene in Trump's image, Sacks said. "The clubs that exist in Washington today have been around for decades. They're kind of old and stuffy," he said on All-In. "To the extent that there are Republican clubs, they tend to be more Bush-era Republicans as opposed to Trump-era Republicans. We wanted to create something new, hipper, and Trump-aligned." He said the founders wanted to create a place where people could hang out without fear of bumping into lobbyists or "a fake news reporter." The club will reportedly be in Georgetown The club will be based in the upscale neighborhood of Georgetown, Politico and other news outlets reported. Sacks didn't share any location details on All-In. Lower-cost options are available While founding members pay a staggering half-a-million dollars to join Executive Branch, other invitees can dole out a smaller sum, Sacks said on All-In. "I think people are getting a little bit carried away with that number," he said of the $500,000 price tag. Sacks didn't specify how much lower-tier membership costs. Regular membership at Ned's Club costs $5,000 a year, on top of a $5,000 joining fee, BI reported in April. The Founders' membership there comes in at $25,000 a year, with a $125,000 initial fee.
New York Post
29-04-2025
- Business
- New York Post
Cash-strapped Washington Post threw $1M brunch at ritzy DC venue during White House Correspondents' Dinner weekend: report
The Washington Post is facing fresh employee outrage after reportedly spending more than $1 million on a brunch at a high-end venue that charges $100,000 just to get in the door — despite the fact that the paper has imposed layoffs as it lost a reported $100 million last year. The Jeff Bezos-owned left-leaning broadsheet hosted an extravagant Sunday brunch at Ned's Club, a private venue with sweeping views of the White House and Washington monuments, according to the Status newsletter. Guests who were in town for the weekend to mark the White House Correspondents' Dinner were treated to lavish food spreads, including generous helpings of caviar, in a display that far exceeded typical WHCD weekend budgets, Status reported. 6 The Washington Post reportedly spent lavishly on a Sunday brunch over the weekend to mark the White House Correspondents' Dinner. Christopher Sadowski Ned's Club in Washington, DC, is an elite members-only social club located near the White House, offering opulent dining and exclusive access to its top-tier clientele. Membership starts at $5,000 annually with a $5,000 initiation fee, but the Founders tier requires a staggering $125,000 initiation fee and $25,000 in yearly dues. Dining at the club is equally lavish, with dishes like a $195 bone-in ribeye and caviar service starting at $150, underscoring the club's ultra-exclusive status among Washington's elite. While media outlets often spend between $200,000 and $300,000 on related events, the Washington Post's seven-figure tab was well outside the norm, according to the report. 6 The newspaper owned by Amazon founder Jeff Bezos lost $100 million last year. Bezos is seen right with his fiancée Lauren Sánchez. WWD via Getty Images The event has fueled growing unease inside the newsroom, where employees have been warned repeatedly about the need for belt-tightening measures, Status reported. Inside the newsroom, morale has hit a low point, with many staffers reportedly expressing frustration over what they see as mixed signals from management. While they are asked to accept budget cuts, hiring freezes, and the elimination of certain newsroom initiatives, leadership has simultaneously greenlit high-profile, high-cost events like the WHCD brunch, according to Status. 6 Ned's Club in Washington, DC, is an elite members-only social club located near the White House. The Washington Post via Getty Images A Washington Post spokesperson told The New York Post that the newspaper has a 'larger strategic partnership' with Ned's Club and that the brunch was designed to showcase the publication and its journalists for clients as part of its efforts toward 'modernizing' its events programming. The spokesperson declined to confirm the reported $1 million price tag. The Washington Post has been mired in financial difficulties over the past year, struggling with steep revenue losses and declining readership. 6 Membership starts at $5,000 annually with a $5,000 initiation fee, but the Founders tier requires a staggering $125,000 initiation fee and $25,000 in yearly dues. The Washington Post via Getty Images In late 2023, the paper revealed it had lost more than $100 million, prompting aggressive cost-cutting initiatives, including a major round of layoffs. In January, management culled nearly 100 jobs — constituting around 4% of 021the workforce. In early 2024, the paper eliminated approximately 240 positions, about 10% of its workforce, citing the need to realign with the harsh realities of the digital news economy. 6 Dining at the club is equally lavish, with dishes like a $195 bone-in ribeye and caviar service starting at $150, underscoring the club's ultra-exclusive status among Washington's elite. The Washington Post via Getty Images The financial turmoil has coincided with a wave of high-profile departures from the newsroom. Longtime executive editor Sally Buzbee stepped down last year amid reported tensions with CEO Will Lewis and concerns about the paper's editorial direction. In the fall, Bezos intervened to spike his editorial board's planned endorsement of then-Vice President Kamala Harris — a move which prompted tens of thousands of readers to cancel their subscriptions. Bezos earlier this year also moved to overhaul the left-leaning editorial page, which led to the resignation of its top editor. 6 Prominent mainstream journalists from outlets such as CNN gathered at the Washington Hilton for the White House Correspondents' Dinner on Saturday. AFP via Getty Images Several Washington Post staffers resigned in protest over what they perceived as Bezos showing favoritism toward President Trump. Bezos, the founder of Amazon who remains the company's largest shareholder despite stepping down from the CEO position in 2021, received a phone call from Trump on Tuesday after it was reported that the e-commerce giant was thinking of including a line item highlighting a new tariff surcharge. After the phone call, Amazon announced that it was considering the move but that it ultimately decided against it.
