The $1.5 billion deal will reportedly take the Israeli company public through a merger with a Florida construction firm
Eric Trump, the second of US President Donald Trump’s three sons, is investing in Israeli drone producer Xtend, the Wall Street Journal has reported. The funding reportedly comes as part of a $1.5 billion deal expected to take the company public through a merger with a Florida-based construction firm.
Defense analysts have cited the increasingly central role of UAVs in intelligence, surveillance, and precision strike operations – with investments in emerging drone manufacturers seen as a strategic financial move amid rising global geopolitical tensions.
According to a WSJ report earlier this week, Israeli developer Xtend markets some of its drones as “low cost per kill” munitions. The company gained operational credibility during recent military operations in Gaza, where its products were used in close-range combat and urban environments, the WSJ noted. The cost solution reportedly aligns with US defense directives to help wage modern warfare.
The company has launched a production site in Florida, secured a multimillion-dollar Pentagon contract, and is part of a continuing Department of War competition for new suppliers, the newspaper added. Xtend is reportedly planning to merge with JFB Construction, also based in Florida.
Along with Eric Trump, who is described as a strategic investor, the deal is financially supported by Unusual Machines, another drone company backed and advised by Donald Trump Jr., the US president’s eldest son, the WSJ noted.
Xtend CEO Aviv Shapira told the newspaper that the merger with JFB Construction would allow the company to scale production in the US and gain access to public capital markets.
Earlier this month, the US Department of War (formerly the Department of Defense) named the Israeli producer among 25 companies invited to participate in the first phase of its ‘Drone Dominance Program’, a procurement initiative that could reach a total value of $1.1 billion.
The WSJ noted criticism and scrutiny over the Xtend investment, citing potential conflicts of interest and renewed debate over the Trump family’s business ties across sectors.
Last year, Dominari Holdings arranged a $44 million private share placement in JFB Construction that recently announced hotel renovation and school expansion projects. Shares of JFB reportedly surged more than 400% following the investment announcement.
