Trevor Milton launches private jet company CyberJet after Trump pardon

Trevor Milton Launches CyberJet After Trump Pardon

Trevor Milton, the former Nikola CEO pardoned by Donald Trump last year after a fraud conviction, is now leading CyberJet, a private jet manufacturer. The company unveiled the SJ36, a light jet positioned to fly New York to Los Angeles nonstop faster than competitors in its class.

A Shortcut to Certification

Milton's strategy sidesteps the typical decade-plus timeline for aviation startups: he bought the remains of a program that had already achieved FAA certification and burned through $700 million in development spending.

The SJ-series jet traces back to the 1980s, when aviation engineer Ed Swearingen designed the aircraft between 1986 and 1991. Gulfstream backed the project early but withdrew after three or four years. Taiwanese investors took over funding, eventually bringing it to FAA certification in October 2005 under the name Sino Swearingen. The program was restructured multiple times—acquired by Dubai investors in 2008 (renamed Emmy Vest Aerospace), then by component supplier Metal Craft Technologies in 2011 after Emmy Vest filed for bankruptcy. Production never scaled. Only about 10 aircraft were built across the program's full history.

An investor group led by Milton acquired CyberJet in 2024, and his role as CEO became public in 2025. He's now positioning the company as a broader aerospace platform, promoting updated models like the SJ34 and SJ36.

The Cockpit Bet

CyberJet is not simply reviving a certified airframe. Milton is building in-house avionics and autonomous features instead of using standard industry systems like Garmin or Honeywell cockpits. The company pitches the jet as featuring autonomous capabilities that could theoretically let a single pilot operate it or enable autopilot for extended periods.

This is the harder commercial story. Private jet buyers—among the most educated and discerning in any market—typically do extensive due diligence on both the aircraft and the manufacturer. The appeal of an already-certified airframe with proven Williams engines is clear. The necessity of custom avionics in a market where pilots and buyers already trust battle-tested systems from established suppliers is less obvious.

The autonomous angle may not move the needle on economics either. For buyers at the $14 million price point flying hundreds of hours annually, the cost difference between single-pilot and dual-pilot operation is immaterial compared to fuel, maintenance, and crew costs over a year. Similarly, heated and cooled seats or WiFi upgrades move comfort metrics, not safety or operational efficiency.

The Milton Problem

Milton's background creates a headwind. His prior venture, Nikola, went from a $30 billion valuation (briefly surpassing Ford in 2020) to implosion after short seller Hindenburg Research alleged in September 2020 that he had made false statements and that Nikola was an "intricate fraud." The SEC and DOJ launched investigations into securities fraud allegations. Milton resigned as executive chairman ten days after Hindenburg's report, though he retained 91 million shares valued at $3 billion at the time and left with restrictions on public commentary about Nikola without approval.

A Trump pardon clears the legal conviction but does not erase buyer skepticism. The fact that major venture investors like Andreessen Horowitz have not backed companies Milton founded post-pardon—despite their documented appetite for founder comebacks (Adam Neumann, Travis Kalanick)—suggests institutional investors see material risk in his brand.

The Demand Bet

The most bullish case rests on private aviation demand. With increased demand for aircraft and existing manufacturers booked, a $14 million certified jet with solid performance specs could appeal to cost-conscious buyers willing to trade some novelty for proven airworthiness and a discount to new inventory. T-Pain's public purchase of a 2004 Gulfstream at 90% below list price because modern variants offered only cosmetic upgrades (USB-C vs. USB-A) illustrates that segment economics can favor older platforms.

Whether that demand extends to a startup led by Milton—and whether the autonomous cockpit angle helps or hurts that pitch—remains the open question.