Donald Trump has made significant investments in the media sector, purchasing at least $1 million worth of bonds from Netflix and Warner Bros Discovery (WBD). This financial move, documented in a recent disclosure form, comes just days after Trump expressed his intention to be involved in a proposed $82.7 billion merger between the two companies.
The financial disclosure released by the White House indicates that Trump executed two separate bond purchases from Netflix and two from WBD, each totaling at least $502,000. These transactions were conducted on December 12 and December 16, shortly after Netflix’s announcement to acquire WBD, pending regulatory approval.
In his remarks made on December 7 at the Kennedy Center, Trump highlighted the merger’s potential impact on market share, noting, “They have a very big market share.” His comments raise questions about the intersection of his investments and his potential involvement in the regulatory process surrounding the merger.
This situation has generated considerable scrutiny, particularly following Paramount Skydance’s announcement of a $108.4 billion hostile takeover bid for WBD, supported by CEO David Ellison and his father, billionaire Larry Ellison, both of whom are known to be friendly with the Trump administration.
The proposed Netflix-WBD merger has not been without controversy. U.S. Senator Elizabeth Warren has described it as “an anti-monopoly nightmare,” calling for greater scrutiny over the deal. The Writers Guild of America has also voiced its opposition, arguing that the merger could lead to job losses, wage reductions, adverse working conditions, increased consumer prices, and a decrease in both the volume and diversity of content available to viewers.
According to the disclosure, Trump’s investment strategy appears aggressive, with approximately $100 million in municipal and corporate bonds acquired between mid-November and late December, over and above similar investments made during the early months of his second term, which included holdings in Citigroup, Morgan Stanley, and Wells Fargo.
While the White House has not provided immediate comments on these financial activities, an unnamed administration official informed the Washington Post that Trump’s investment portfolio is managed independently by third-party financial institutions. This official emphasized that neither Trump nor his family has any capacity to influence investment decisions regarding the portfolio.
