U.S. financial disclosure forms show President Donald Trump bought more than $1.1 million of Netflix bonds across four trades spanning mid-December and January, a period when the streamer was pursuing a deal for Warner Bros. Discovery assets and facing a competing bid from Paramount Skydance. The filings, dated Feb. 27 and posted online last week, report holdings in ranges rather than precise dollar amounts.
What the disclosure reports
According to the disclosures, Trump purchased more than $500,000 of Netflix bonds in two transactions on Dec. 12 and Dec. 16, then bought another more than $600,000 across two additional trades on Jan. 2 and Jan. 20. The reported holding range for the Netflix position totals between just over $1.1 million and $2.25 million.
The bond described in the report carries a 5.375% coupon and matures in November 2029. The disclosure does not indicate whether the bonds were later sold, so it does not establish whether the investment generated a profit or loss.
Pricing moved, but filings do not show gains
The report cited bond pricing around the time of the purchases at roughly $1.03 to $1.04 per dollar of face value. The bonds were reported near $1.04 on Feb. 26, a day before Netflix withdrew from the bidding, and then eased back to roughly $1.03 as of Friday. Without sale timing or purchase size detail beyond ranges, the disclosures alone do not show whether Trump benefited from the price changes.
Regulatory pressure ran alongside the deal race
The bond buying occurred as Netflix was attempting to secure Warner Bros. Discovery studio and streaming assets while facing heightened political and regulatory scrutiny. The report said Trump and administration officials publicly raised antitrust questions about a potential Netflix combination and pushed Netflix to remove board member Susan Rice, a former adviser to Barack Obama.
The White House said Trump’s assets are held in a trust managed by his children. “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest,” White House spokeswoman Anna Kelly said in the report.
Warner bonds, too, as Paramount lined up financing
The same disclosures also showed Trump purchased between $500,002 and $1 million in Warner Bros. Discovery bonds in two trades dated Dec. 12 and Dec. 16. The report cited those bonds trading in the low 90-cent range at purchase and around 95 cents later, which would imply a mark-to-market gain if held.
Netflix ultimately exited the contest after Paramount Skydance advanced a winning bid valued at about $110 billion. The report said the Paramount transaction is expected to be backed by $39 billion in new debt provided by Bank of America, Citigroup, and Apollo.
Why the disclosure is drawing attention
U.S. presidents are exempt from conflict-of-interest laws that restrict many other executive branch officials from holding investments tied to matters overseen by the government, the report noted. Even so, the combination of active regulatory commentary, a high-profile media transaction, and personal holdings in corporate bonds has raised renewed questions about optics and ethics, especially as Trump has reported wide-ranging business interests alongside a large personal asset base.