Just days after Netflix announced its major deal to acquire Warner Bros. Discovery's studios and streaming businesses, US President Donald Trump purchased up to $2 million worth of debt securities linked to the two companies, according to his latest financial disclosures.
As per documents released by the White House and cited by ANI, Trump bought between $250,001 and $500,000 worth of Netflix bonds on two occasions—December 12 and December 16. The purchases came shortly after Netflix unveiled its proposed $83 billion acquisition of Warner Bros. Discovery.
The disclosures further show that Trump also purchased bonds in the same value range from Discovery Communications, a subsidiary of Warner Bros. Discovery, on the same dates. Taken together, Trump's investments in Netflix and Warner Bros. Discovery debt securities could total as much as $2 million. Netflix bonds are set to mature in November 2029, while the Warner Bros. Discovery bonds mature in 2030.
Beyond Netflix and Warner Bros. Discovery, Trump also acquired corporate bonds from several major US companies, including SiriusXM, Boeing, General Motors, Macy's, Occidental Petroleum and Whirlpool. Overall, his disclosures indicate that he purchased around $100 million worth of municipal and corporate bonds between mid-November and late December.
The investments have drawn attention as they came shortly after Netflix and Warner Bros. Discovery finalised their deal. Reports also indicate that Trump met Netflix co-CEO Ted Sarandos at the White House to discuss the acquisition.
The proposed Netflix–Warner Bros. Discovery deal is facing resistance from Paramount, which has launched a hostile tender offer in an attempt to acquire Warner Bros. Discovery. Paramount has argued that Netflix's proposal offers less certainty and weaker timing of closure, and has accused Warner Bros. Discovery of failing to provide key financial disclosures, including details on valuation, debt transfer structure and risk adjustments applied to Paramount's $30-per-share offer.
Trump has publicly stated that he would have a say in whether Netflix can proceed with the acquisition, which is expected to face scrutiny from US antitrust regulators.
Addressing potential conflict-of-interest concerns, a White House official told Reuters that Trump's stock and bond portfolio is independently managed by third-party financial institutions. The official said neither Trump nor his family members have any role in directing or influencing investment decisions.
