Trump Sons Join Dominari Holdings’ Advisory Board: A Controversial Move Raises Questions

In a surprising business development, Donald Trump Jr. and Eric Trump have joined the advisory board of Dominari Holdings, a company previously known as AIkido Pharma. The announcement, made on February 11, 2025, caused the company’s stock to surge to a 52-week high of $11.33, peaking at $13.58 just two days later. However, by March 6, the stock had dropped sharply to $6.69, leaving investors and analysts puzzled.

The Trump brothers’ involvement with Dominari Holdings has drawn significant attention, particularly due to the lack of public records about the advisory board’s existence before the announcement. The advisory board agreement was filed with the SEC on February 12, a day after the news broke, raising concerns about transparency and the motivations behind the appointment.

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 to purchase an additional 432,000 shares each. Their compensation includes additional shares when the company’s market capitalization reaches $50 million, $100 million, and $150 million. Ronald Lieberman, an executive vice president at the Trump Organization, is the only other identified advisory board member. He received 150,000 unrestricted shares and was paid $3,551 in cash in 2024 for his role.

Dominari Holdings, headquartered in Trump Tower, focuses on wealth management, investment banking, and capital investment. The company pays the Trump Organization $747,000 annually in rent, adding another layer of intrigue to the Trump family’s involvement.

Kyle Wool, president of Dominari Holdings, praised the Trump brothers’ appointment, 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.” However, critics like Alan Palmiter, a corporate law and securities regulation professor at Wake Forest University, argue that this move is less about expertise and more about political patronage. “Anybody should know this is political patronage. This is not the purchase of expertise,” Palmiter remarked.

The Trump brothers’ experience in the AI and data center sector remains unclear, raising further questions about their qualifications for the advisory roles. Additionally, the timing of their share acquisition and the price they paid for their stakes are still unknown.

Adding to the controversy, trading volume for Dominari Holdings surged ahead of the February 11 announcement, a pattern some securities law experts have labeled as “suspicious.” This has fueled speculation about potential insider trading or market manipulation.

The Trump family’s business dealings have long been a subject of public interest and scrutiny. Forbes estimated Donald Trump Jr.’s net worth at $50 million and Eric Trump’s at $40 million in November 2024. Their involvement with Dominari Holdings is just the latest chapter in a series of high-profile business moves that often blur the lines between politics and commerce.

As the story unfolds, one thing is clear: the Trump brothers’ entry into Dominari Holdings has raised more questions than answers. Whether this move will prove beneficial for the company or further tarnish the Trump family’s business reputation remains to be seen. For now, investors and observers alike are keeping a close eye on Dominari Holdings and its controversial new advisors.