Trump’s $100 million bond buys: Netflix & Warner Bros. Discovery feature in president’s latest investments

Trump’s $100 million bond buys

US President Donald Trump purchased up to $2 million worth of corporate bonds issued by Netflix and Warner Bros. Discovery just days after the two companies announced their proposed merger, according to recent financial disclosures released by the White House.

The filings show that Trump bought two tranches of Netflix bonds and two tranches of Warner Bros. Discovery (via Discovery Communications LLC), each valued between $250,001 and $500,000, on December 12 and December 16. The Netflix bonds are due to mature in November 2029, while the Warner Bros. Discovery bonds mature in 2030.

The investments came shortly after Netflix unveiled its roughly $83 billion deal to acquire Warner Bros. Discovery’s studios and streaming businesses. Trump has previously said he would take part in the regulatory process, telling reporters, “They have a very big market share.”

The timing has drawn scrutiny, particularly as Paramount Skydance, led by David Ellison, has launched a rival bid for Warner Bros. Discovery, raising the likelihood of a contested regulatory and corporate battle.

Trump’s latest disclosures indicate he purchased nearly $100 million in municipal and corporate bonds between mid-November and late December, including holdings in companies such as Boeing, General Motors, SiriusXM, Macy’s, and Occidental Petroleum.

Responding to potential conflict-of-interest concerns, a White House official said the president’s investments are managed independently, adding that “neither President Trump nor any member of his family has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold. All investment decisions are made entirely by independent managers.”