Donald Trump Jr. and Eric Trump are investing in a biotech-turned-fintech company in Trump Tower.President Donald Trump’s two older sons are also joining Dominari Holdings’ advisory board.News of their endorsement drove the stock up as much as 84% on Tuesday.President Trump’s two older sons, Donald Trump Jr. and Eric Trump, are betting on a biotech and fintech company based in Trump Tower and joining its advisory board.The news sent Dominari Holdings shares up as much as 84% on Tuesday before closing 21% higher at $7.46. The stock, which traded below $1 as recently as December, has surged roughly sevenfold this year after almost doubling on Monday. It was down about 4% in morning trading on Wednesday.Dominari said the older Trump brothers had agreed to take part in a private placement it announced Tuesday. The company was originally incorporated as Spherix in 1967, and was named Aikido Pharma between 2017 and 2022. Over the years, it has pivoted from selling sweeteners, to developing anticancer and antiviral therapeutics, to buying fintech and financial services companies. It completed its first purchase, of a broker-dealer and investment advisory business, in March 2023.The CEO of Dominari’s fledgling securities business, Kyle Wool, told Bloomberg he’s a personal friend of the Trumps and a member of one of the family’s golf clubs in Florida.Wool described Trump’s two elder sons as “very great businessmen,” highlighted their interest in AI and data centers, and said they could be “very helpful” in offering him guidance.Trump’s older sons detailed in a press release how their roles at Dominari fit into their father’s plans as president. Donald Trump Jr. said harnessing AI was “essential to Trump’s America First agenda.”Eric Trump said AI advances would support “growth and global competitiveness,” and ramping up data center investments was “key to strengthening America’s global standing.”
Mer. Feb 12th, 2025
