Military humanoid robot maker Foundation misses payroll after CEO borrowed $4.6 million, CNBC reports

Foundation Future Industries, a San Francisco maker of military humanoid robots backed and advised by Eric Trump, has not paid employees since missing its October 30 payroll, CNBC reports, citing people with direct knowledge of the matter.

According to CNBC, chief executive and co-founder Sankaet Pathak borrowed $4.6 million from the company last year, which he called a short-term loan, and public records show an LLC naming him as sole principal bought a $4.6 million home in Sausalito, California, in October 2025. Pathak is Foundation's sole board member and owns most of its shares, a structure the people said has worried prospective investors. A spokesman for Pathak acknowledged receiving the main points of the story but did not respond to requests for comment.

CNBC also reports that the widely cited $24 million in Pentagon contracts came from Foundation's 2024 acquisition of Boardwalk Robotics, which held existing government research contracts, rather than contracts Foundation won itself. Pathak has been seeking to raise hundreds of millions of dollars at a $3 billion valuation since at least January, and has said the company is close to unveiling a next-generation robot. Insiders fear the company could fold without new funding, according to CNBC.