The Trump family wants to cash in on government contracts

Drone manufacturer Xtend plans to go public by merging with Florida-based JFB Construction Holdings. Among other investors in the deal is Unusual Machines Inc., another drone manufacturer whose advisor is Eric's brother, Donald Trump Jr., according to Bloomberg.

The deal was arranged by investment boutique Dominari Holdings Inc., headquartered in Trump Tower. This firm has already been involved in other Trump family business projects.

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This deal gives the president's family a financial stake in a company that directly benefits from the US Department of Defense's plans. The Pentagon, following the Trump administration's instructions, intends to speed up the procurement of military drones and eliminate bureaucratic red tape, which will potentially increase investor returns.

“I am incredibly proud to invest in companies I believe in. Drones are definitely the wave of the future. Xtend has incredible potential,” said Eric Trump.

Xtend, in which the US president's son is investing, already has a successful track record of working with the government. In November, it received a multi-million dollar contract from the US Department of Defense to develop drones with artificial intelligence.

Xtend is fighting for further government support: it is one of 25 companies admitted to the first phase of the Pentagon's $1.1 billion Drone Dominance program.

Trump Jr. is a beneficiary of the growth of the defense sector. In 2024, he owned approximately $4 million worth of shares in Unusual Machines. In addition, the venture capital fund 1789 Capital, where he is a partner, finances a number of defense companies, including Anduril Industries, Vulcan Elements, and Hadrian.

Photo: U.S. Government.

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