Major investment by Eric Trump, the son of the US president, in an Israeli drone manufacturer. It has contracts including with the Pentagon
Eric Trump, the son of the President of the United States, Donald Trump, will invest in a merger valued at 1.5 billion dollars between the Israeli drone manufacturer Xtend and the American builder JFB Construction Holdings.
Eric Trump, son of the US president PHOTO: Video capture
The second son of the American leader is actively participating in the transaction by contributing capital to the merger, which combines Xtend's advanced technology with JFB's infrastructure and development experience, according to a company statement.
The investment made by Eric Trump will allow the acceleration of drone production in the United States, the expansion of manufacturing capacities and the positioning of the company for future contracts and listing on the stock exchange, which makes him a central actor in the expansion of the company, according to the same source, writes Agerpres.
Xtend has won contracts with the US War Department, including an agreement announced in November, the value of which was not disclosed, and previously finalized another for $8.8 million in December 2024.
In addition, this month, Xtend was selected from among 25 companies to participate in the Pentagon's Drone Control Program, intended to accelerate large-scale procurement of inexpensive drones.
The Israeli company promotes its systems as drones with “low cost per shoot down”, and its products have been used by the Israeli army, including in operations in the Gaza Strip, according to media reports such as Al Jazeera.
If the merger goes through, Xtend would combine its technology platform with the infrastructure and development experience of JFB, which builds commercial and residential properties in Florida and other US states.
The investment has drawn criticism from ethics experts, who warn of potential conflicts of interest as the company maintains and aspires to expand contracts with the federal government during President Trump's second term.
For their part, the monitoring organizations signaled that this agreement is added to other controversial ones, which are related to the affairs of the presidential family.
