Trump Snapped Up Netflix, Warner Bros. Bonds Days After Big Deal

President Donald Trump recently invested in the entertainment industry by buying corporate bonds tied to Netflix and Warner Bros. Discovery. The information comes from a financial disclosure released by the White House and first reported by The Hollywood Reporter.

According to the disclosure, Trump purchased bonds issued by Netflix and by Discovery Communications LLC, which is part of Warner Bros. Discovery. Each set of bonds was valued at up to $1 million. The purchases were made in mid-December, just days after Netflix announced its massive $83 billion deal involving Warner Bros. Discovery.

The disclosure, dated January 14, lists dozens of financial transactions with a combined value of more than $100 million. It does not give exact dollar amounts, only ranges. The filing shows that Trump bought two separate batches of Netflix bonds. One was purchased on December 12 and another on December 16. Each was valued between $250,001 and $500,000. These Netflix bonds are scheduled to mature in November 2029.

The same pattern appears with the Warner Bros. Discovery-related bonds. Trump bought two batches of bonds issued by Discovery Communications LLC on the same December dates. Each purchase was also valued between $250,001 and $500,000, with the bonds set to mature in 2030.

The filing also shows that Trump bought corporate bonds from SiriusXM around the same time, along with bonds from many other major U.S. companies. These included General Motors, Boeing, Macy’s, and Victoria’s Secret. Most of the December purchases, however, were municipal bonds issued by states and cities across the country.

A White House official told The Hollywood Reporter that the investments are part of a portfolio designed to mirror established market indexes. The official said, “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.”

The timing of the Netflix and Warner Bros. Discovery bond purchases is notable. They began about a week after the companies announced their megadeal. The deal is still facing uncertainty, as David Ellison’s Paramount is attempting to block it with a hostile tender offer and possible proxy fight.

Any merger would also need approval from U.S. regulators. Trump has said publicly that he expects to weigh in on the matter, with the Department of Justice likely leading any challenge to the deal.

In the days before the deal was announced, Trump met with Netflix co-CEO Ted Sarandos. Trump later praised Sarandos, calling him “a fantastic man.” Despite that, Trump also reposted an article sharply criticizing the Netflix–Warner Bros. Discovery deal titled “Stop the Netflix Cultural Takeover.”

Sarandos addressed the repost this week and said he was confused by it. “I don’t know why he would have done that,” he said. “No conversation we ever had was about any of the things that were in that article that he posted. I don’t want to overread it, either.”

Have something to add? Let us know in the comments!