Here's a story about airports, AI, and the kind of investment that makes people ask questions. A Trump family-linked investment group has decided to put $31.3 million behind XWELL, Inc. (XWEL), a company that wants to screen travelers for infectious diseases using artificial intelligence. The timing is interesting: they're aiming to deploy this tech at U.S. airports in time for the massive travel influx expected for the 2026 FIFA World Cup.
According to reports, American Ventures—a special purpose vehicle managed by Trump Tower-based broker Dominari Securities—agreed in late February to buy $31.3 million worth of convertible preferred shares in XWell. For context, at the time of the deal, XWell's entire market capitalization was under $3 million. So, this is a pretty significant bet.
The deal specifics: American Ventures bought 31,333 preferred shares at $1,000 each. Those shares can be converted into about 66.6 million common shares at an initial conversion price of $0.47. That's a lot of potential common stock.
The AI Pitch for Crowded Airports
This investment closed just three weeks after XWell announced a partnership with an AI predictive analysis startup called PieQ. Together, they're pitching a "next generation intelligence layer" designed to handle the travel surges around major international events. The 2026 World Cup, which will be hosted across North America, is their stated starting point.
So what does XWell actually do? Through subsidiaries, it offers voluntary diagnostic tests to incoming international travelers. Some of this work is funded by U.S. government contracts. The company also runs a more traditional airport business: 25 XpresSpa outlets in the U.S., the UAE, and Turkey, plus a waxing salon chain in southwest Florida. It's a mix of biosecurity and airport retail.
The financials show it's not a profitable venture yet. XWell reported a net loss of $17 million on revenue of $29.2 million for 2025. The new capital injection is presumably meant to change that trajectory.
The Trump Connection and the Scrutiny That Follows
Now, about those Trump links. It's not immediately clear whether Eric Trump or Donald Trump Jr. personally put money into this XWell deal. However, a person familiar with the matter told reporters that the Trumps are involved in "most" American Ventures deals. Neither Trump responded to requests for comment, and Dominari Securities declined to comment.
Eric Trump and Donald Trump Jr. joined Dominari's advisory board in late 2024. They've also used a different American Ventures vehicle to invest in Powerus, a drone company that's pursuing a Pentagon contract and a reverse merger with Aureus Greenway Holdings Inc. (AGH).
This XWell investment fits into a broader pattern of Trump family commercial activity that tends to draw outside scrutiny. For instance, reports have noted that the Trump family received $187 million from an Abu Dhabi royal-backed firm just days before President Trump's inauguration. Months later, the UAE secured a deal for 500,000 advanced AI chips annually. Separately, Eric Trump signed a $500 million investment agreement with Sheikh Tahnoon, the UAE's national security adviser, through World Liberty Financial.
The through-line here seems to be investments in sectors like defense, security, and advanced technology—often with international angles. The XWell deal, focusing on biosecurity at major travel hubs, is another piece of that puzzle.
