Summary
President Donald Trump's son, Eric Trump, is investing in an Israeli drone maker, Xtend, as part of a $1.5 billion merger with a Florida construction company, JFB Construction Holdings. The deal raises conflict-of-interest concerns because it involves the Trump family's business dealings during Trump's presidency. Xtend has been involved with the U.S. Department of Defense and was selected for a program aimed at increasing the use of low-cost drones.
Key Facts
- Eric Trump is investing in a $1.5 billion merger between Israeli drone maker Xtend and Florida's JFB Construction Holdings.
- The merger aims to make Xtend a public company.
- Xtend's drones have been used by Israel's military and have recently secured a multimillion-dollar contract with the Pentagon.
- The U.S. Department of Defense has included Xtend in its Drone Dominance Program, which focuses on deploying low-cost drones.
- Xtend had previously secured an $8.8 million contract with the Pentagon in December 2024.
- The merger raises concerns about conflicts of interest linked to the Trump family's business activities during President Trump's term.
- JFB Construction, involved in the merger, specializes in building commercial properties and has appointed a former White House attorney to its board.
- Eric Trump expressed optimism about the potential of drone technology and its future market growth.
