In the first full quarter since President Trump's two sons, Donald Trump Jr. and Eric Trump, joined the advisory board of investment bank Dominari Holdings Inc., the company saw its revenue increase by 452% year-over-year.
In the second quarter ended in June, Dominari, headquartered in Trump Tower in Manhattan, generated approximately $34 million in revenue, up from $6.17 million in the same period last year. The company's shares closed up 25.1% at $6.67 in New York on Tuesday.
Since the Trump sons joined, Dominari has been involved in a series of transactions involving the Trump family and its allies. The most notable was a deal involving American Bitcoin Corp., which was established with the help of another publicly traded bitcoin miner called Hut 8 Corp. According to the company's quarterly financial statements, Dominari held $32 million worth of American Bitcoin shares as of June, its largest long-term private equity investment. American Bitcoin is expected to go public in another transaction in the coming weeks.
Another major deal occurred in June: the father of cryptocurrency tycoon Justin Sun invested $100 million in SRM Entertainment Inc., with Dominari acting as its placement agent. SRM, originally a loss-making toy manufacturer, later changed its name to Tron Inc., transforming itself into a company focused on TRX, the virtual token that underpins Sun's Tron network.
Data shows that Eric Trump owns approximately 6.3% of Dominari. He and Donald Trump Jr. joined the company in February of this year, each receiving 750,000 shares upon reaching certain milestones.
Dominari and its financial subsidiaries collectively pay over $60,000 in monthly rent at Trump Tower.