NEW YORK (AP) 鈥� A drone maker backed by President Donald Trump’s two oldest sons is trying to sell to Gulf countries while they are under attack by Iran and dependent on the U.S. military led by their father.
The sales drive by Florida-based Powerus 鈥� which announced a deal last month to bring aboard Eric Trump and Donald Trump Jr. 鈥� positions the company to potentially benefit from a war that their father began.
鈥淭hese countries are under enormous pressure to buy from the sons of the president so he will do what they want,鈥� said Richard Painter, a former chief White House ethics lawyer under President George W. Bush. 鈥淭his is going to be the first family of a president to make a lot of money off war 鈥� a war he didn鈥檛 get the consent of Congress for.鈥�
Powerus co-founder Brett Velicovich told The Associated Press that the company is making sales pitches that include drone demonstrations in several Gulf countries to show how its defensive drone interceptors could help them ward off Iranian attacks.
鈥淥ur team is doing many demos across the Middle East right now for our interceptors,” Velicovich said in an text exchange. 鈥淲e have very incredible tech that can save lives.鈥�
He declined to name the countries or give more details.
The with Powerus could give them sizable equity stakes. Their father, as commander in chief, launched the strikes with Israel against Iran over a month ago that began the war, the impetus for why these Gulf countries now need protection.
Powerus denied there were any conflicts when the Trump brothers’ stake was first announced. Velicovich emphasized its determination to help the U.S. catch up with Chinese and Russian drone makers and beat them.
鈥淲e are at war, my friend, we are in an arms race and America will lose if we don鈥檛 build fast,鈥� said Velicovich, an Army veteran who had come under fire from the same Russian drones now being used by Iran. He added, 鈥淲e should be thankful anyone is trying to invest in American manufacturing now. That idea transcends politics.鈥�
The president’s oldest sons have expanded their business interests beyond hotels and golf courses since their father took office again. The companies they’ve invested in or been named advisers for 鈥� with equity stakes 鈥� run the gamut from cryptocurrency ventures to prediction markets to federal contractors making rocket parts and rare earth magnets.
This latest Trump venture has its sights on $1.1 billion set aside by the Pentagon to build up a U.S. manufacturing base for armed drones to fill a hole left when the Trump administration banned such imports from China.
The Trump Organization, where the two sons are executives, didn’t respond to a request for comment, but has dismissed claims of conflicts of interest in the past. The sons have said they didn’t get credit for their restraint in expanding their businesses in their father’s first term so have decided not to hold back much this time.
Asked about potential Powerus conflicts of interest specifically, Eric Trump sent AP a statement last month saying, 鈥淚 am incredibly proud to invest in companies I believe in. Drones are clearly the wave of the future.鈥�
Founded by U.S. Army Special Operations veterans about a year ago, Powerus makes drones for commercial uses, from spreading fertilizer to putting out forest fires. But it is bulking up fast to supply drones for military uses.
The company recently raised $60 million from investors and hopes to tap additional financing by doing a 鈥渞everse merger鈥� with a Trump company listed on the Nasdaq stock exchange that owns a few golf courses in Florida. Such a merger allows a private business to quickly go public by taking over a company that already has publicly traded shares, shortening the process of filing paperwork and meeting various requirements of regular initial public offering.
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