Eric Trump Invests in Xtend for $1.5 Billion Merger with JFB Construction to Go Public
Eric Trump is investing in Israeli drone maker Xtend as part of a $1.5 billion merger with JFB Construction, aiming to take Xtend public. This deal, which includes backing from Unusual Machines, highlights potential conflict-of-interest concerns as it aligns with the Trump family's expanding defense portfolio amid his father's presidency. Xtend has secured contracts with the Pentagon and is participating in the Defense Department's Drone Dominance Program, which seeks to acquire low-cost military drones.
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Eric Trump is investing in a $1.5 billion merger between Israeli drone manufacturer Xtend and Florida-based JFB Construction Holdings to take Xtend public. This deal involves Unusual Machines, which has ties to Trump's brother, Donald Trump Jr.
Xtend, which has military contracts with the Pentagon, is selected for the Drone Dominance Program to develop low-cost attack drones. The merger aligns with the Trump family's interests in defense during President Trump's administration.
Shares of JFB fell 43% recently after significant gains. Dominari Holdings Inc., an investment bank linked to the Trump family, facilitated the deal.
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