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| Donald Trump Jr and Eric Trump reportedly invest in Powerus, a U.S. drone startup targeting Pentagon contracts as demand for unmanned systems grows. |
The involvement of the Trump family in the defense technology sector is drawing renewed attention. Two sons of former U.S. President Donald Trump—Donald Trump Jr. and Eric Trump—are reportedly investing in drone manufacturing startup Powerus, which plans to supply products to the Pentagon.
The report was first published Monday by The Wall Street Journal. According to the report, the company based in Florida is preparing to go public on the Nasdaq within the next few months.
The public listing is expected to take place through a reverse merger with Aureus Greenway Holdings. Shareholders of the company are also linked to the Trump family’s investment vehicle, American Ventures, according to the report.
The deal also involves drone component manufacturer Unusual Machines. Donald Trump Jr. is listed as both a shareholder and a member of the company’s advisory board.
In addition, investment bank Dominari Securities, which has ties to the Trump family, is also reported to be participating in the project.
Interest in the sector is rising as demand for military drones from the Pentagon continues to grow. The increase comes amid a U.S. government ban on the supply of new drone models from China to the United States.
The report also noted that U.S. authorities plan to allocate about $1.1 billion for the purchase of hundreds of thousands of unmanned systems through 2027.
Meanwhile, Powerus is reportedly considering acquiring a drone manufacturer from Ukraine or licensing its technology to manufacture the systems in the United States.
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