Trump Sons Secure Multi-Million-Dollar Military and Mining Deals Amid Family Business Expansion

Trump Sons Expand Business Empire with Military and Mining Deals

Don Jr. and Eric Trump, the president’s elder sons, are capitalizing on their father’s political influence to secure lucrative business opportunities. At least two companies tied to the brothers have recently won major government contracts, while their investment firm has expanded into high-value international ventures.

Powerus Secures U.S. Air Force Drone Contract

Powerus, a drone manufacturer founded in 2023 by former U.S. Army Special Operations veterans, has secured a contract with the U.S. Air Force to supply an undisclosed number of drones. The deal comes as the U.S. marks 60 days since the start of military operations against Iran.

The company went public earlier this year through a reverse merger with a golf club, a transaction backed by the Trump brothers’ investment firm, American Venture. Their boutique investment bank, Dominari Securities, also played a role in the deal. Powerus cofounder Brett Velicovich dismissed any suggestion that the Air Force’s decision was influenced by the Trump family’s ties to the company.

"They’re not going to pick a system because of who’s on an investor list. They’re picking because they need it now."

— Brett Velicovich, Co-founder of Powerus

Despite Powerus being one of 187 U.S.-based drone manufacturers, the company’s rapid contract award has drawn scrutiny. A November report from Georgetown’s Center for Security and Emerging Technology highlights the competitive landscape, though it does not mention Powerus specifically.

Trump Brothers Invest $24 Million in Kazakh Tungsten Mine

In a separate development, a shell company backed by Don Jr. and Eric Trump agreed to merge with a major tungsten mine in Kazakhstan. The project, Kaz Resources, is a subsidiary of Cove Kaz Capital, an investment group that secured $1.6 billion in U.S. government support last year.

The Trump brothers’ involvement began in August 2023, when they purchased a stake in Skyline Builders through a special purpose vehicle arranged by Dominari Securities. By October 28, their investment in Skyline had grown by nearly $24 million. On October 31, Skyline acquired a 20% stake in Kaz Resources for $20 million.

On November 6, Cove Kaz Capital and Kaz Resources announced a merger to develop "the largest known undeveloped tungsten resource in the world." The Financial Times reported on November 14 that Skyline, the Trump brothers’ investment firm, would merge with Cove Kaz Capital, though their names were not mentioned in the announcement.

Trump Family Denies Involvement in Government Dealings

A spokesperson for Don Jr. denied any knowledge of his father’s dealings prior to the investments or the merger.

"Don is a passive investor in American Ventures and has no operational involvement in the company. He does not interface with the federal government on behalf of any company he invests in or advises."

— Spokesperson for Don Jr. Trump

The Trump brothers’ expanding business ventures coincide with growing scrutiny over potential conflicts of interest arising from their father’s presidency. Critics argue that their financial gains may be indirectly tied to their family’s political influence.

Key Takeaways

• Powerus, backed by Don Jr. and Eric Trump, secured a U.S. Air Force drone contract amid ongoing military operations in Iran.
• The Trump brothers invested $24 million in Skyline Builders, which later acquired a 20% stake in Kaz Resources, a Kazakh tungsten mine.
• Cove Kaz Capital, which secured $1.6 billion in U.S. government support, merged with Kaz Resources to develop the world’s largest undeveloped tungsten resource.
• A Trump family spokesperson denied any operational involvement or government interfacing by Don Jr. in these deals.