In recent years, a growing number of American entrepreneurs and investors have engaged in financial deals closely linked to former President Donald Trump and his network, reshaping aspects of U.S. capitalism and raising concerns about market practices and political influence. These transactions, often involving complex mergers and reverse mergers, have at times yielded significant gains for major funds, while ordinary investors have frequently faced substantial losses.
Dominari Securities and its affiliate, American Ventures, exemplify this trend. Following a $26 million investment in a combined golf course company in Kissimmee, Florida, the value of Dominari’s holdings reportedly increased nearly tenfold. However, retail investors who bought shares during the merger have seen steep declines—one related venture, Powerus, has lost almost 70 percent of its value since its merger announcement. Dominari Holdings’ chief executive denied any wrongdoing, attributing stock price fluctuations to routine market behavior, though critics note a recurring pattern of sharp value surges followed by dramatic drops across multiple deals.
The involvement of business figures connected to the Trump family has extended beyond domestic markets to international engagements. In April 2025, the co-founders of World Liberty Financial—Chase Herrro, Zak Folkman, and Zach Witkoff, the son of Trump’s former Middle East envoy—were warmly received in Lahore, Pakistan, by government officials during a widely publicized event at the historic Shalimar Gardens. During this visit, Witkoff signed a memorandum of understanding with the Pakistani government in the presence of Prime Minister Shehbaz Sharif. Pakistani authorities have sought to engage Trump-related businessmen as intermediaries with the current U.S. administration, conducting multiple prior meetings involving others connected to the Trump family. A spokesperson for World Liberty Financial stated the company has no political role or governmental influence.
Similar gatherings have occurred on U.S. soil. In February, World Liberty Financial hosted a conference at Mar-a-Lago, drawing prominent American executives, including the heads of Goldman Sachs, the New York Stock Exchange, and Nasdaq—markets where several Trump-affiliated companies are listed. Though framed as discussions on finance and technology, the events underscored the Trump family’s ongoing influence in these sectors.
The consolidation of wealth and power among a Trump-affiliated oligarchy has sparked comparisons to the late 19th-century American oligarchs, who wielded substantial political clout that led to landmark reforms like the Sherman Antitrust Act and the direct election of senators. Experts warn that current dynamics evoke similar concerns over democratic governance and corruption.
Public attitudes reflect growing unease. A CNBC poll in late 2025 identified corruption as the top issue for midterm voters, while a Gallup survey found 89 percent of Americans regard government corruption as widespread. Financial setbacks linked to Trump’s ventures include an estimated $3.8 billion loss by investors in his cryptocurrency project. Meanwhile, private clubs established by individuals close to the former president command high initiation fees, though demand has declined.
The Trump family’s extensive business operations have prompted calls for increased oversight. In September, Senator John Curtis of Utah requested a Senate Judiciary Committee investigation into Donald Trump Jr.’s business dealings, including defense contracts and crypto ventures, to prevent potential abuses tied to the presidency. Earlier, Representatives John Moolenaar and Ro Khanna sought congressional inquiries into Dominari Securities, citing multiple allegedly fraudulent transactions involving Chinese companies that resulted in heavy investor losses. Dominari Holdings responded by minimizing the role of its Chinese deals and stating it ceased initial public offerings in Hong Kong.
Observers note that the Trump family’s approach to business—diversifying into sectors ranging from casinos to airlines and professional sports—has historically involved significant risk-taking, often leading to bankruptcies and collateral damage to partners and communities, even as the family’s financial standing has been maintained. The emerging scrutiny of these practices highlights ongoing tensions between wealth accumulation, corporate governance, and democratic accountability in the United States.