Don Jr. and Eric Trump joined the advisory board of Dominari Holdings – a tenant at Trump Tower with lease payments that may be almost $750,000 per year
On Tuesday shares of Dominari Holdings surged after the company announced that Donald Trump Jr. and Eric Trump had joined its advisory board.
Bells instantly went off for me because I had come across Dominari and its CEO Kyle Wool while I was researching this story on Aman New York. The luxury resort company Aman, run by Russian-born Vlad Doronin, has a subsidiary – OKO Group – which is a significant tenant of Trump Tower – an item not reported elsewhere by the media.
Now that Don Jr. and Eric Trump have joined Dominari’s advisory board, below is an overview of the company, including news that another executive of the Trump Organization was recently added to Dominari’s board of directors, and Dominari appears to make rent payments of almost $750,000 a year to the Trump Organization.
Dominari Holdings announced that Donald Trump Jr. and Eric Trump are joining the Advisory Board
Yesterday Dominari announced announced in a press release that Don Jr. and Eric Trump joined their Advisory Board and that the company plans to sharpen its focus on data center and AI investment opportunities.
Dominari Holdings also announced it had entered into definitive securities purchase agreements with certain investors with gross proceeds of $13.5 million expected for the company. They also announced a special cash dividend of $4 million in aggregate to stockholders of record as of February 24, 2025.
Last December Dominari Holdings announced that it was appointing Ron Lieberman as a director. Ron Lieberman has been the Executive Vice President of Management and Development of The Trump Organization since 2007.
With Don Jr. and Eric Trump appointed to the Advisory Board, another Trump Org executive on the board of directors, and Dominari paying rent as a tenant at Trump Tower - there are multiple business ties between Dominari and the Trump family that are worth investigating further to understand this business relationship.
Dominari Holdings is a tenant of Trump Tower in Manhattan with two leases that appear to cost them almost $750,000 per year
According to an SEC fiing for Alkido Pharma Inc. (later renamed Dominari Holdings) the company entered a lease agreement with Trump Tower Commercial LLC on December 1, 2021 to rent part of the 22nd floor at 725 Fifth Avenue. The initial term was seven years starting on July 11, 2022 and the monthly rent was $12,874 and would increase to $13,502 per month in years six and seven. Below is the section of the filing showing the December 2021 lease terms:
When I came across Dominari a while back, I ended up doing further research on them because I noticed that they appeared to have two separate leases in Trump Tower for a not-insignificant amount of money.
In another section of the same filing in ‘Note 14. Subsequent events’ another seven year lease with Trump Tower Commercial is described dated September 23, 2022 for a portion of a floor at 725 Fifth Avenue and this one says the monthly rent is $49,368, increasing to $51,868 in years six and seven.
The 10-Q for Dominari Holdings for the period ending March 31, 2024 includes similar items to the sections above for both leases, and it appears that they are paying for both. This would make Dominari Holding’s monthly rent in Trump Tower $62,242 a month and just under $750,000 per year.
The 2023 annual report for Dominari shows a lease section with a ‘net rent expense’ of $773,000 in 2023, compared to a net rent expense of $140,000 in 2022.
Dominari had 7 full-time and 1 part-time employee by the end of 2022 and 26 full-time and 2 part-time employees by the end of 2023. While the number of employees increased, the jump in rent costs seems significant for such a small firm.
Alkado Pharma Inc., a business focused on healthcare, was renamed Dominari Holdings and diversified into financial services
At the end of 2022 Alkido Pharma changed their name to Dominari Holdings as part of a rebranding effort and their plan to diversify from healthcare into financial services.
Anthony Hayes, CEO of Dominari Holdings Inc., commented, “Rebranding of the Company reflects the board’s long-range strategic goal to diversify away from the healthcare sector and into the financial services sector. We are actively recruiting new team members and building out operations space for our newly created financial services subsidiary, Dominari Financial Inc., which is acquiring the financial services business of a registered broker-dealer. We have deployed approximately $3.2 million of capital in support of the establishment and operations of this new subsidiary, including the broker-dealer acquisition, and expect to continue to make additional contributions as required from time to time.”
The company had previously been focused on developing a portfolio of “small-molecule anticancer and antiviral therapeutics and related patent technology.” They acquired a registered broker-dealer and transitioned business operations to fintech and financial services, operated through their subsidiary, Dominari Financial Inc. The Company continues to develop its therapeutics and related patent technology, as well as other ventures, through its subsidiary, AIkido Labs, LLC.
Per a September 2024 filing the long-term equity investments were: Kerna Health, Kaya Now, Tevva Motors, Unusual Machines, Qxpress, Masterclass, Kraken, Epic Games, Tesspay, SpaceX, Databricks, Discord, Thrasio, Automation Anywhere, XAI, Cerebras, Groq, AdvEn and Anduril. Most are very small positions–for example the xAI investment is 100,000 Series XI xAI Units for $0.1 million–but the list shows the types of businesses they invest in or may do more business with in the future.
Dominari CEO Kyle Wool was previously president of Revere Securities
Kyle Michael Wool, the current CEO of Dominari, was previously a board member of Alkido Pharma and had acted as a matchmaker in a deal for Dominari Financial to acquire a broker-dealer. In May 2023 Dominari announced that it had acquired the broker-dealer and registered investment advisor business of Fieldpoint Private Bank and Trust in Connecticut.
According to Kyle Wool’s LinkedIn page, he became CEO of Dominari Financial and Dominari Securities in early 2023 and previously in his career had worked at Morgan Stanley and Oppenheimer & Co.
Prior to Dominari, Kyle Wool had been President and Non Executive Chairman of Revere Securities. In 2021 Dominari Holdings had engaged the services of Revere Securities and incurred fees of approximately $75,000. Another executive from Revere Securities, Soo Yu, is a director of Dominari.
Revere Securities was co-founded by Bill Moreno and their FINRA report lists over a dozen regulatory events from 2021 and prior years.
Domaniri Holdings Stockholders
The annual report for Dominari Holdings for the year ending December 31, 2023 lists beneficial owners and stockholders. The filing shows Soo Yu holds 20.95% of common stock, and the filing notes elsewhere that Ms. Yu is married to Mr. Wool. Kyle Wool owns 4.15% and Anthony Hayes owns 5.35%.
The owners of Series D Preferred Stock include: Daniel W. Armstrong 35.29%, R. Douglas Armstrong 11.76%, Francis Howard 23.53% and Charles Strogen 29.42%. Chai Lifeline Inc. owns 100% of Series D-1 Preferred Stock.
Now that Donald Trump Jr. and Eric Trump are advising this company, another Trump Organization executive is a director, and they are paying a fair amount of rent in Trump Tower, it will be worth looking further into the owners and future business dealings of Dominari Holdings.
A possible Revere Securities connection to a network of colorful characters
A researcher named Eclecticity spotted on X that Crunchbase shows David Rozinov is a director of Revere Securities. David Rozinov’s LinkedIn page also lists that he has been a director of Revere Securities from 2009 to present.
There is little beyond the Crunchbase listing and Rozinov’s LinkedIn showing his involvement with Revere Securities, or for that matter the dates when he may have been involved there. However he had previously worked at Jesup & Lamont and Revere’s Executive Chairman Bill Moreno had worked at Jesup & Lamont as well. It is not known if Kyle Wool has any connection to Rozinov or his network. And it should be noted that there is no indication of any illegal behavior and activity connected to Dominari Holdings, Kyle Wool or anyone involved in the recent announcement related to Don Jr and Eric’s new advisory roles.
However – if there is any connection between David Rozinov and Revere Securities and/or to Kyle Wool, it would be worthwhile looking more closely at Rozinov’s background. Rozinov has been involved with some interesting business partners, including Oleg Firer and Kenges Rakishev.
In 2015 there is a David Rozinov listed in this filing on a deal between Net Element and Oleg Firer and Star Equities and executives including Kenges Rakishev. For those interested, below is a quick summary on a few of these people that barely scratches the surface.
This 2019 Miami Herald story described how Oleg Firer founded payments processing company Unified Payments and then became CEO of Net Element and a venture capital business Star Capital Fund. The story notes how he has crossed paths with many notorious characters. After fraudsters Victor and Natalia Wolf, who were wanted by the FBI for swindling investors out of tens of millions of dollars, had fled the U.S. it was Oleg Firer that took over the title to their house and moved in. He was once arrested on a charge of mortgage fraud – related to the former Wolf property – which was later dropped and expunged. In 2017 Firer became Grenada’s ambassador to Moscow. This Daily Mail story describes what appears to be a real-time scandal unfolding in the U.K. involving Prince Andrew and Oleg Firer, who was stopped from entering Grenada in 2023 after being assessed as an alleged threat to national security.
Kenges Rakishev, a wealthy businessman who married the daughter of the former prime minister of Kazakhstan, was also involved in a deal with Prince Andrew back in 2016 that Members of Parliament in the U.K. wanted investigated. Rakishev has also appeared in some big stories in the U.S. A 2019 search warrant for Michael Cohen described how Cohen sent an invoice for consulting work for $150,000 to BTA Bank in Kazakhstan to the attention of Kenges Rakishev, the majority shareholder of another bank that controlled BTA. Rakishev was also involved in business transactions with Devon Archer and Hunter Biden.
Back in 2013 David Rozinov had a business called New World Partners with Emmanuil Grinshpun, another person with a vast shady network which I will leave to other intrepid researchers to explore.
Speaking of intrepid researchers, the business dealings involving Hunter Biden and Devon Archer have been spun into such a tangled web that it is difficult to research their deals without getting lost in a quagmire of right wing fringe conspiracy theories.
However, several filings like this and this appear to show that before Kyle Wool became CEO of Dominari Holdings where he now works with advisors Donald Trump Jr. and Eric Trump, a few years ago he was at Morgan Stanley and is listed in documents that show financial transactions and account balances related to Devon Archer.
It certainly is a small world when a former financial advisor connected to Hunter Biden’s former business partner is now running a business out of Trump Tower and has just brought on U.S. President Donald Trump’s two oldest sons as advisors.
Everything about the Trump family reeks of fraud & illegality.
Sounds like a money laundering endeavor to me.