Economy|MilitaryUS president’s son Eric Trump invests in drone maker with gov’t contractsIsraeli firm Xtend recently won a US Department of Defense contract and is bidding for another before a merger with JFB Construction.
## Investment in Israeli Drone Manufacturer
Investment in Israeli Drone Manufacturer
Eric Trump, son of the United States President, is investing in a $1.5 billion merger between Israeli drone maker Xtend and Florida-based JFB Construction Holdings. This merger is intended to take Xtend public within the year, as announced by JFB in a recent news release.
Xtend is known for its drones, which have been utilized by Israel's military for operations such as mapping underground tunnels. The company has previously secured contracts with the U.S. Department of Defense, including an $8.8 million deal in December 2024.
JFB Construction Holdings, which specializes in commercial and residential property development, including multifamily communities and shopping centers, is a key participant in the merger. The collaboration aims to enhance U.S. manufacturing and scale production, integrating Xtend's advanced AI capabilities with JFB's infrastructure expertise.
Recently, Xtend was selected among 25 companies to join the Defense Department's Drone Dominance Program, an initiative focused on the rapid deployment of low-cost, attack drones.
Eric Trump, son of the United States President, is investing in a $1.5 billion merger between Israeli drone maker Xtend and Florida-based JFB Construction Holdings.
Joseph F. Basile III, CEO of JFB, stated the merger provides a significant opportunity to advance defense technology in the U.S. market. Xtend CEO Aviv Shapira emphasized the strategic advantage gained through this partnership, enabling expanded U.S. manufacturing capabilities.
Ethics experts have raised concerns regarding potential conflicts of interest, highlighting the Trump family's personal investments and their implications during the presidency.
Board Appointment and Trademark Filing
In the context of the merger, Stefan Passantino, a former White House attorney, has been appointed to JFB's board of directors. Additionally, the Trump family company has filed to trademark the president's name for use on airports, although no fee plans have been disclosed for a proposed renaming near the president's Florida residence.
Based on reporting by Al Jazeera.
