Donald Trump Jr. and Eric Trump are expanding their presence in the defense sector by investing in Powerus, a Florida-based drone startup. The company announced on Monday its plans to go public through a merger with Aureus Greenway Holdings Inc. (Nasdaq: AGH), a move that sent shares of the golf course operator surging as much as 24%.
The Deal Structure
The transaction marks a pivot for Aureus Greenway, shifting from leisure assets to high-tech defense.
- Public Listing: The combined entity is expected to list on the Nasdaq under the ticker PUSA by summer 2026.
- Funding Injection: The deal is supported by a $50 million investment from the Korea Climate & Governance Improvement Fund.
- Trump Family Ties: Both brothers are investors in the venture. Additionally, Unusual Machines—a drone components firm where Donald Trump Jr. serves as a shareholder and advisor—is participating in the deal.
- Advisory: The transaction was facilitated by Dominari Holdings, a boutique investment bank in which the Trump sons hold minority stakes.
Strategic Context: The “American Drone Dominance” Era
The investment comes at a critical time for U.S. defense policy under the current administration.
- Filling the Gap: The administration has recently banned new Chinese-made drones, leaving a massive opening in the market for domestic manufacturers to supply both the Pentagon and commercial sectors.
- Pentagon Demand: Powerus aims to produce over 10,000 drones per month, targeting the Department of Defense’s “Drone Dominance Program,” which seeks low-cost, high-scale autonomous systems.
- Advanced Tech: Co-founder and Special Ops veteran Brett Velicovich stated the company is in talks to license or acquire Ukrainian drone technology, which has been battle-tested in high-risk environments.
“America had been losing the drone race to countries like China. That era is over. We’re entering the era of American drone dominance.” — Brett Velicovich, Co-founder of Powerus
Conflicts of Interest Concerns
The deal has reignited debates among ethics experts regarding the intersection of the First Family’s private business and government policy. Critics point out that the company is vying for lucrative Pentagon contracts at a time when the administration is actively prioritizing drone procurement. This follows a similar $1.5 billion deal Eric Trump backed last month to take Israeli drone maker Xtend public.