The Trump family is among the wealthiest in the United States, with their fortune growing significantly during Donald Trump's second presidential term. Originally, the family built their wealth in real estate, before Donald Trump's sons ventured into the cryptocurrency business in recent years.
Ahead of the late 2024 elections, a Trump family fund, co-owned by Donald Trump Jr. and Eric Trump, invested in the drone technology sector.Bloombergreported that the Trump family’s American Ventures fund has invested in at least three companies, which have become prominent amid the war where the U.S. and Israel are striking Iran.
The three companies linked to American Ventures and Donald Trump’s sons—through stock market listings, mergers, and direct investments—are Powerus, Unusual Machines, and Xtend. Total investment sums to nearly $750 million (over 24 billion baht).
Powerus is the latest company in which the Trump family has invested. Founded by Brett Velicovich, a former U.S. military veteran and Delta Force intelligence analyst who authored the book Drone Warrior.
The company aims to increase production of small remotely controlled drones from 1,000 to 10,000 units per month to boost sales to the U.S. government, with existing supply contracts already in place.
Powerus recently announced plans to go public through a merger with Aureus Greenway, a company unrelated to drone technology that operates golf courses in Orlando, Florida. Aureus Greenway is already listed on the Nasdaq.
In this merger deal, Dominari Holdings—a Trump-backed investment bank—acts as transaction advisor, alongside Unusual Machines, another drone business in which the Trump family has invested.
After the U.S. Department of Defense officially launched the “Drone Dominance” program, aiming to deploy hundreds of thousands of armed unmanned aerial vehicles for the military, Aureus Greenway’s stock tripled from a micro-cap level of about 60 cents per share.
Following the merger announcement with Powerus and news that American Ventures acquired a large stake, the stock price surged to $5.48 per share, with the Trump family fund holding approximately $400 million worth.
Xtend is an Israeli drone manufacturer headquartered in the U.S., near the U.S. Central Command. It secured multi-million-dollar contracts with the U.S. Department of Defense last year.
Eric Trump invested in Xtend and supported a reverse merger with Nasdaq-listed JFB Construction Holdings, a company unrelated to drones that specializes in real estate development and construction.
The merger plan was announced shortly before the war between the U.S. and Israel against Iran began. In September, JFB Construction’s stock surged after it was revealed that American Ventures had acquired shares worth around $340 million.
Additionally, the merger deal received support from Unusual Machines, the drone manufacturer previously mentioned.
During the Middle East conflict, Xtend disclosed that in March it produced and delivered drones to the Israeli government. When asked whether these drones were involved in attacks on Iran, the company declined to comment.
Unusual Machines is a U.S.-based drone parts manufacturer listed on the NYSE, with Donald Trump Jr. as an investor and company advisor. His holdings are valued at approximately $7 million.
This company is linked to the merger deals of the two drone businesses mentioned earlier and received orders from the U.S. Army’s 101st Airborne Division last year.
These deals coincide with a growing focus by the U.S. military on unmanned aerial vehicles, which are increasingly used for one-time attack missions, and efforts to reduce costs of intercepting cheap enemy drones instead of using expensive missiles costing up to $4 million each.
However, analysts warn these deals may pose conflicts of interest, as the Trump family supports companies seeking government contracts. Stacie Pettyjohn, director of defense programs at the Center for a New American Security, said, “This complicates government contract allocations, and it remains unclear how conflicts of interest will be managed and who will receive preferential treatment.”
Moreover, the recent surge in drone manufacturer stocks may not align with the rapid pace of technological change and uncertainties in government procurement.
“While the drone sector is booming and the U.S. needs more companies, it is still unclear how many will survive sustainably,” she added.
Source:Bloomberg
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