The family of US President Donald Trump is expanding its presence in the defense industry, investing in the production of drones, which could potentially bring profits from government orders. According to Bloomberg, the second son of the American leader, Eric Trump, is investing in the company Xtend as part of a USD 1.5 billion deal.
According to the publication, Xtend plans to enter the stock market through a merger with the Florida company JFB Construction Holdings. Among the participants in the deal is also Unusual Machines Inc. - another drone manufacturer, whose advisor is Eric's brother, Donald Trump Jr.
The financial part of the deal was organized by the investment company Dominari Holdings Inc., whose headquarters are located in Trump Tower. This structure has previously collaborated with the business projects of the Trump family.
The deal gives the president's family a stake in a company that could benefit from the Department of War's plans to expand its purchases of military drones. The Pentagon, in line with the Trump administration's policy guidelines, plans to speed up procurement procedures and reduce bureaucratic barriers, which could potentially boost investors' income.
"I'm incredibly proud to invest in companies I believe in. Drones are definitely the technology of the future. Xtend has tremendous potential," Eric Trump said.
Xtend already has experience working with the US government. In November, it received a multi-million dollar contract from the Department of War to develop drones with artificial intelligence. The company is currently one of 25 participants in the first phase of the Pentagon's "Drone Dominance" program, worth a total of USD 1.1 billion.
At the same time, Donald Trump Jr. also has an interest in the growth of the defense sector. In 2024, he owned shares in Unusual Machines Inc. for about USD 4 million. In addition, the venture capital fund 1789 Capital, of which he is a partner, invests in a number of defense companies, including Anduril Industries, Vulcan Elements and Hadrian.
Recall that the US involved the secret drone RQ-170 Sentinel in the operation in Venezuela.
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