Trump Sons Join Dominari Holdings’ Advisory Board: A Strategic Move or Political Patronage?

In a surprising business development, Donald Trump Jr. and Eric Trump, sons of former President Donald Trump, have joined the advisory board of Dominari Holdings, a company specializing in wealth management, investment banking, and AI/data center sectors. The announcement, made on February 11, 2025, sent Dominari’s stock price soaring to a 52-week high of $11.33, peaking at $13.58 just two days later. However, the move has sparked debate among experts and investors, with some questioning the transparency and motivations behind the decision.

Donald Trump Jr. and Eric Trump each acquired 966,000 shares of Dominari Holdings, representing 6.7% of the company’s outstanding shares. They also hold warrants for an additional 432,000 shares. Their compensation package includes shares and additional incentives tied to the company’s market capitalization milestones of $50 million, $100 million, and $150 million. As of March 6, 2025, Dominari’s market cap stood at $42 million, leaving room for growth but also uncertainty.

Joining the Trumps on the advisory board is Ronald Lieberman, an executive vice president at the Trump Organization. Lieberman received 150,000 unrestricted shares on February 18, 2025, and was paid $3,551 in cash in 2024 for his role. Notably, the advisory board’s existence was not publicly documented before the Trumps’ involvement, with SEC filings only appearing on February 12, 2025, a day after the announcement.

The announcement triggered a surge in trading volume, which some securities law experts described as “suspicious.” Despite the initial stock price doubling, it has since declined, closing at $6.69 on March 6, 2025. This volatility has left investors wondering whether the Trumps’ involvement will translate into long-term value for the company.

Dominari Holdings, headquartered in Trump Tower, pays the Trump Organization $747,000 in annual rent, adding another layer of intrigue to the arrangement. While the company’s president, Kyle Wool, expressed optimism about the Trumps’ contributions, stating, “Their guidance is expected to be instrumental as we continue to seek attractive investment opportunities, particularly in the rapidly evolving AI and data center sector,” others remain skeptical.

Alan Palmiter, a corporate law and securities regulation professor at Wake Forest University, described the move as “political patronage” rather than a purchase of expertise. This sentiment echoes concerns about the Trumps’ qualifications in the AI and data center sectors, areas where their experience is unclear.

The Trumps’ involvement in Dominari Holdings follows a pattern of leveraging their family name for business opportunities. In November 2024, Forbes estimated Donald Trump Jr.’s net worth at $50 million and Eric Trump’s at $40 million, highlighting their established presence in the business world. However, their latest venture raises questions about whether their influence will drive meaningful growth or simply serve as a short-term boost.

As the dust settles, all eyes are on Dominari Holdings’ stock price and whether it can sustain its profits. Investors and analysts will be watching closely to see if the Trumps’ contributions can lead to tangible results or if the move is merely another chapter in the family’s business playbook.

For now, the story serves as a reminder of the intersection between politics, business, and public perception—a dynamic that continues to shape the corporate landscape in unexpected ways.