Trump Brothers Invest and Join Advisory Board of Fintech Firm Dominari Holdings
Donald Trump Jr. and Eric Trump have invested in and joined the advisory board of Dominari Holdings, a biotech and fintech company headquartered in Trump Tower.
The announcement fueled a surge in Dominari's stock price, with gains reaching 84% on Tuesday. The stock, which traded under $1 in December, has witnessed a remarkable spike this year, almost doubling on Monday. Despite a 4% dip on Wednesday morning, it remains elevated.
Dominari stated that the Trump brothers had participated in a private placement announced on Tuesday. The company has undergone a transformation over the years, evolving from sweetener sales to cancer therapeutics development and fintech acquisitions.
Kyle Wool, CEO of Dominari's securities division, attributed the Trump brothers' involvement to his personal connection and their interest in AI and data centers. He expressed optimism about their guidance.
In a press release, the Trump brothers emphasized the alignment of their roles with their father's agenda. Donald Trump Jr. stressed the significance of AI in advancing "Trump's America First agenda." Eric Trump highlighted AI's role in economic growth and competitiveness, while emphasizing the importance of data center investments in strengthening America's global position.