Donald Trump purchased bonds from Netflix and Warner Bros. Discovery for between $1 million and $2 million shortly after their major merger announcement, sparking ethical debates since he announced his involvement in regulatory reviews.
The White House financial disclosure, submitted to the Office of Government Ethics on January 14, 2026, lists 191 transactions from mid-November to late December 2025, including two Netflix bond purchases ($250,001–$500,000 each on December 12 and 16) and identical Warner Bros. Discovery purchases (via Discovery Communications) on those dates. These Netflix bonds mature in November 2029 and form part of broader corporate and municipal bond acquisitions totaling up to $51 million from companies like Boeing, Macy’s, Victoria’s Secret, and General Motors.
Netflix announced on December 5, 2025, its acquisition of Warner Bros. Discovery’s studios, HBO streaming, and gaming assets for $72–$83 billion, with TV networks spinning off into Discovery Global by Q3 2026. Trump met Netflix co-CEO Ted Sarandos at the White House in December and publicly pledged to oversee regulatory scrutiny due to antitrust concerns for the merged entity.
Experts highlight potential conflicts, as Trump’s regulatory role could sway the deal favorably for his portfolio. Ann Skeet from Santa Clara University’s Markkula Center emphasized that presidents must prioritize public interest over personal gains in merger approvals. The disclosure mentions no specific divestment plans.
