As the U.S. Department of Defense significantly increases its budget for drone procurement, the sons of former U.S. President Donald Trump are further expanding their investments in defense technology. On Monday, an emerging drone company announced it will go public on the Nasdaq through a merger, a transaction that has received support from members of the Trump family.
Drone company Powerus, headquartered in West Palm Beach, Florida, stated it will achieve a public listing by merging with Nasdaq-listed golf course operator Aureus Greenway Holdings Inc. (AGH.US). According to a company statement, the transaction has received investment support from Donald Trump Jr. and Eric Trump.
Spurred by the news, shares of Aureus Greenway surged as much as 24% during Monday's trading session in New York. However, by the time of reporting, the stock had given up all gains and turned negative, down 3.07% to $4.74.
The transaction was advised by boutique investment bank Dominari Holdings Inc., which has previously been involved in several deals for the Trump family in the drone and cryptocurrency sectors. Concurrently, a South Korean climate and governance improvement fund also invested $50 million in the project.
Brett Velicovich, a co-founder of Powerus and a former U.S. Army Special Operations soldier, stated that the company is at a critical stage of rapid development. He said in the statement, "The market opportunity before us is immense, and we plan to seize it firmly."
This investment further expands the Trump family's footprint in the drone sector. Just last month, Eric Trump supported a $1.5 billion deal that facilitated the public listing of Israeli tactical drone manufacturer Xtend through a merger with a Nasdaq-listed construction company.
Furthermore, a drone components company named Unusual Machines Inc. participated in both the Xtend and Powerus transactions. Donald Trump Jr. has served as an advisor to the company since 2024 and has made an investment in it.
Analysts point out that the Trump family's recent concentrated moves into the drone sector are closely linked to the rapidly growing demand for unmanned systems from the U.S. government. The U.S. Department of Defense is currently advancing an $11 billion drone procurement program, aiming to acquire hundreds of thousands of drones by 2027 while simultaneously promoting the establishment of a localized drone manufacturing supply chain. This policy direction is seen as a significant growth driver for the military drone industry in the coming years.
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