Trump bought Netflix and Warner Bros. Discovery bonds days after their megadeal, while saying he would be involved in reviewing it

A financial disclosure released by the White House in January showed that President Trump bought Netflix bonds on Dec. 12 and Dec. 16, 2025, each purchase valued between $250,001 and $500,000. On the same two dates he bought bonds of Discovery Communications, a Warner Bros. Discovery subsidiary, in the same ranges. Netflix and Warner Bros. Discovery had announced their roughly $83 billion deal on Dec. 5.

A day before Paramount launched its hostile bid for Warner Bros., Trump told reporters he would be involved in the regulatory decision on the sale. CNN reported that ethics experts said owning debt of both companies while having a hand in that decision set up a potential conflict of interest. Trump later told NBC News he would not be personally involved in the Justice Department's review.

A second disclosure, released in March, showed two more Netflix bond purchases in January 2026 worth between roughly $600,000 and $1.25 million, made while Netflix was still fighting Paramount for the studio. Reuters calculated his total Netflix purchases at between about $1.1 million and $2.25 million.